Goldman’s New Fund Designed for PE Returns, Sans the PE

Microsoft. Eli Lilly. Palantir. No one would mistake those stocks for private equity, but they’re the top holdings of a new Goldman Sachs Asset Management ETF designed to mimic PE returns. The fund’s name is eye-catching for its reference to that: It’s the Goldman Sachs MSCI World Private Equity Return Tracker (GTPE). But make no mistake, it holds no private equity, and that’s a detail that the prospectus makes clear in bold capital letters. Instead, it tracks an index that “seeks to approximate the retur ...