FYI: The booming U.S. market for exchange-traded funds is making it a popular girl at the dance, with more and more traditional asset managers seeking a place on the dance card. The latest such company looking to cut a rug in the space is Aberdeen Standard Investments (ASI), which on Friday announced it purchased the U.S. business of ETF Securities. Deal terms weren’t disclosed.
ETF Securities developed the world’s first gold exchange-traded product in 2003, and its subsequent product line in the U.S. has focused on commodities and precious metals. The eight ETFs being purchased by ASI comprise $2.8 billion in assets under management.
Regards,
Ted
https://www.fa-mag.com/news/aberdeen-acquires-etf-securities--u-s--business-38414.html?print
