Goldman Sachs MSCI Emerging Markets ex-China Tilted Real Estate UCITS ETF

Issuer: Goldman Sachs

Asset Class: Equity

TER: 49

Trading Currency: GBP

Pays Income: False

Listing Date: 16 Jan 2026

Ticker: GSPP

ISIN: IE000GNOSM10

This fund offers targeted exposure to the real estate sector across a diverse range of emerging market countries, with the notable exclusion of China. It is designed to track the performance of the MSCI Emerging Markets ex China Custom Tilted Real Estate Index. The strategy employs a physical replication methodology, holding the underlying securities of the index. A key feature of the index is its 'custom-tilted' approach, which systematically overweights companies with stronger Environmental, Social, and Governance (ESG) profiles and underweights those with weaker profiles. This provides investors with a way to access the growth potential of emerging market real estate while incorporating a layer of sustainable investing criteria.

The investment proposition is compelling for those seeking to diversify their portfolios and capture the structural growth drivers in emerging economies, such as rapid urbanization, a rising middle class, and increased infrastructure spending, all of which benefit the real estate sector. The explicit exclusion of China addresses a common investor concern about over-concentration in a single country and allows for more nuanced control over geographic allocations within emerging markets. This makes the fund an interesting tool for investors who want to reduce China-specific political or economic risks while maintaining broad exposure to other high-growth developing nations. The integrated ESG tilt may also appeal to investors aiming to mitigate long-term sustainability risks and align their capital with companies demonstrating better corporate citizenship.

In a portfolio context, this product can serve as a strategic satellite holding to complement core global or broad emerging market equity allocations. It provides a specific, sector-focused investment that can add a distinct source of potential returns. It is best suited for investors with a long-term horizon who understand and are willing to accept the higher volatility associated with both emerging markets and the real estate sector. As an accumulating fund, all dividend income is reinvested back into the portfolio, which can enhance long-term compounding effects without creating taxable events for the investor, making it an efficient vehicle for building wealth over time.