GSAM cuts fees for China bond ETF

Cutting costsGoldman Sachs Asset Management (GSAM) is cutting the cost of its Chinese fixed income ETF to cash in on increased investors interest in the asset class. The fund manager has reduced the total expense ratio (TER) of its China Government Bond Ucits ETF by a third, from 0.35% to 0.24%. According to GSAM, the 11 basis points cut makes the ETF the fee-leading product in the category. The fund, which was launched in 2019, tracks the FTSE GS China Government Bond NR USD index. The move comes ahead of Chinese government bond’s inclusion to the FTSE World Government Bond Index later this year which is likely to lead to more inflows from international investors. While the Chinese bond market is the second largest in the world, GSAM believes Chinese assets are still significantly under-owned by global investors. © 2021 funds global asia

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