The exchange-traded fund is now live on the New York Stock Exchange.

Goldman Sachs Asset Management has launched an exchange-traded fund that seeks to track the firm's Hedge Fund VIP Index.

Priced to shareholders at 45 basis points, the Goldman Sachs Hedge Industry VIP ETF is now live on the New York Stock Exchange with around $20 million in assets.

The index it tracks includes 50 “very important positions”. These are US-listed stocks that appear often in the top 10 holdings of more than 650 hedge fund managers overseeing a collective $700 billion in equity. The index is equally weighted and includes stocks owned by hedge fund managers holding between 10 and 200 distinct equity positions, Goldman Sachs said. 

Goldman Sachs Asset Management began offering ETFs in 2015 and now has seven offerings with $2.5 billion in assets as of September 30, 2016.

The asset manager recently launched the Goldman Sachs TreasuryAccess 0-1 Year ETF, which is reportedly the first ETF to offer same-day settlement of creations and redemptions for authorized participants.

“We’re thrilled to be able to package these high conviction investment ideas from a broad array of professional investors into a cost effective, tax-efficient and convenient ETF wrapper,” said Michael Crinieri, head of ETF strategies at Goldman Sachs Asset Management.

Last month, Goldman Sachs' investment management arm reported a 4 per cent year-on-year rise in net revenues for the third quarter of 2016.