Source, one of the fastest-growing Exchange Traded Fund (ETF) providers in Europe, is pleased to announce that it is launching in the US – the next logical step in its global expansion. Source’s first investment product to be listed on the New York Stock Exchange is the Source EURO STOXX 50 ETF, which offers highly liquid exposure to thelargest blue chip stocks in the Eurozone. …
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said Executive Chairman Lee Kranefuss
The firm’s US launch is spearheaded by a management team of ETF veterans led by co-founders Ted Hood, CEO, and Peter Thompson, Chief Strategy Officer. They are joined by Executive Chairman Lee Kranefuss, an ETF pioneer and the architect of iShares, and Senior Advisor Richard Goldman, formerly CEO of Rydex|Security Global Investors and COO of Guggenheim Investments.
“Entering the US is the next step in the growth of our global business,” Peter Thompson said. “We see a tremendous opportunity to deliver market-driven, value-added products to US investors and are excited about the opportunity to serve the US market.”
Earlier this year, Warburg Pincus, a global private equity firm focused on growth investing, acquired a majority stake in Source, joining the firm’s management team and five of the world’s largest investment banks—Bank of America Merrill Lynch, Goldman Sachs, J.P. Morgan, Morgan Stanley and Nomura—as shareholders.
“As a global independent ETF firm, we are unconstrained internally and free to partner with the world’s leading money managers and other providers of investment content, while still enjoying the support of the largest financial institutions and trading firms,” said Executive Chairman Lee Kranefuss. “These partnerships put Source in a unique position to offerinvestors access to investment strategies to serve their needs that were previously unavailable and give world class managers exposure to an untapped audience.”
Source: ETFWorld.co.uk
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