On Friday evening, fintech firm Motif Investing said that it was shutting its doors. The company was founded nearly a decade ago and has focused on providing thematic investing solutions to investors. It is not clear why it is closing, but the firm said in a tweet that all of its existing client accounts will be transferred to another fintech firm, Folio Investing, as of May 20.
Goldman Sachs subsequently announced that it would be taking the Motif indexes that underly five of its existing ETFs in-house after Motif informed the issuer it would stop calculating the indexes on or around May 15.
The affected funds include the following:
- Goldman Sachs Motif Data-Driven World ETF (GDAT)
- Goldman Sachs Motif Human Evolution ETF (GDNA)
- Goldman Sachs Motif Finance Reimagined ETF (GFIN)
- Goldman Sachs Motif New Age Consumer ETF (GBUY)
- Goldman Sachs Motif Manufacturing Revolution ETF (GMAN)
None of Goldman’s Motif ETFs has more than $25 million in assets under management. The funds launched in March 2019.
Contact Heather Bell at [email protected]