A Goldman Sachs sign is seen at the New York Stock Exchange April 21, 2010. REUTERS/Brendan McDermid/File Photo Acquire Licensing RightsOct 26 (Reuters) - Goldman Sachs Asset Management (GSAM) has launched a pair of defined outcome exchange-traded funds (ETFs), a group of products that use options strategies to offer upside exposure to stocks while cushioning downside risk. The new funds - the Goldman Sachs S&P 500 Core Premium Income (GPIX.O) and the Goldman Sachs Nasdaq 100 Core Premium Income ETF (GPIQ.O) - will use an options overlay strategy to limit downside risk and generate income, said Michael Crinieri, global head of ETFs at GSAM. Defined outcome products are a relatively new corner of the ETF landscape, although the options strategies themselves are well established. "We started looking at developing enhanced income products like these in 2005," said Monali Vora, head of wealth investment solutions at GSAM.

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Persons: Goldman Sachs, Brendan McDermid, Michael Crinieri, Crinieri, Monali Vora, Morningstar, GSAM, Suzanne McGee Organizations: New York Stock Exchange, REUTERS, Goldman Sachs Asset Management, Goldman, Morningstar Direct, Thomson