Goldman to Shift ETF Accelerator Servicing to Tidal

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Goldman Sachs Group Inc. (GS) has announced the winding down of its ETF Accelerator platform, a digital platform that assists clients in launching, listing, and managing their own ETF products. The servicing responsibilities will now be shifted to Tidal Financial Group after the platform came to market in 2023.

Tidal Financial Group, a U.S.-based white-label ETF provider, will take over servicing responsibilities for two trusts that encompass 12 ETFs launched under the Accelerator program. This decision was made in collaboration with an independent trust, with a Goldman Sachs spokesperson stating, “moving the platform to Tidal was the best long-term solution for our clients and the continued success of their funds.”

In December, reports surfaced that Goldman Sachs was exploring the sale of its ETF Accelerator platform. The European arm of the business has only one client, Ultramarin, a German asset manager. Ultramarin has launched two ETFs with Goldman Sachs, with the AI-Enhanced Eurozone Equities UCITS ETF (EUAI) being the first to launch in Europe in June 2024. This strategy utilizes an AI-driven stock selection model to predict monthly excess returns for eurozone equities and has amassed $91 million since its inception.

Following the success of EUAI, Ultramarin launched the AI-Enhanced US Equities UCITS ETF (USIQ) in January. This ETF focuses on U.S. equities and has gathered $11 million since its launch. Both strategies are based on AI-driven models that forecast monthly excess returns for stocks within their respective investment universes.

Rebecca Anderton-Davies, the head of Goldman Sachs ETF Accelerator EMEA, departed from her role in October, a little over a year-and-a-half after taking on the position.

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