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Goldman Sachs Asset Management (GSAM) announced an updated liquidation timeline for the Goldman Sachs Defensive Equity ETF (GDEF). Effective from June 12, 2024, the fund will liquidate its portfolio assets orderly. Shareholders can sell their shares on NYSE Arca until market close on July 3, 2024, but may incur transaction fees. Post-July 3, the shares will be delisted. Remaining shareholders as of the expected liquidation date, July 8, 2024, will receive a cash payout equal to the net asset value of their shares, leading to potential capital gains or losses for tax purposes. The fund will stop accepting creation orders on July 3, 2024. GDEF, originally an open-end mutual fund, seeks long-term growth with lower volatility using a “Put Spread Collar” strategy, though it involves market risks and high portfolio turnover, resulting in higher expenses and potential short-term capital gains.
Goldman Sachs Asset Management (GSAM) has announced that the Board of Trustees has approved a plan to liquidate the Goldman Sachs Defensive Equity ETF (GDEF). Effective immediately, the fund will begin liquidating its assets. Shareholders can sell their shares on NYSE Arca until market close on July 12, 2024. After this date, shares will be delisted and liquidating distributions will be made on or around July 19, 2024. The liquidation plan does not require shareholder approval, and transaction fees may apply for selling shares. The fund, which focuses on long-term capital growth with lower volatility, has faced various market risks and will stop accepting creation orders on July 12, 2024.
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