SPA Eyes International ETFs

SPA ETFs is looking into its first international exchange-traded funds. The firm, which has offices in New York and London, offers six ETFs that invest only in U.S. stocks but is considering launches of at least one offering that invests in European companies and at least one offering that invests in Asian companies sometime next year. Neil Michael, head of quantitative strategies, said European clients demand European funds to gain access to stocks on their continent. An Asian fund makes sense, he added, because SPA wants to offer a line of ETFs that is broad enough for advisors to build entire portfolios out of, and a diverse portfolio should have exposure to the growing Asian economies.