WisdomTree Investments, the US-based passive asset manager and sponsor of exchange-traded funds (ETFs) and other exchange-traded products (ETPs) with $48.4 billion of funds under management, is seeking regulatory approvals for the agreed acquisition of ETF Securities’ European exchange-traded commodity, currency and short-and-leveraged business, which has $17.6 billion of assets under management.
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Acquisition creates largest independent global |
World’s largest providers by AuM ($bn) |
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Source: WisdomTree |
If the deal is approved before the end of the year, WisdomTree, which only launched into ETF management in 2006, will become the world’s ninth-largest sponsor of ETPs and the world’s biggest independent specialist.
Jonathan Steinberg, chief executive of WisdomTree, says: “The acquisition will immediately add scale, diversification and profitability to our business in Europe, the second-largest ETF market in the world and a growing and strategically important region for us and the entire industry.”
He draws particular attention to the fact that ETF Securities started from scratch, like WisdomTree...
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