Aberdeen Standard Investments (ASI) has snapped up the US arm of specialist commodity exchange traded product (ETP) provider ETF Securities for an undisclosed sum.
The deal adds eight commodity-based ETFs with $2.8bn in assets to ASI’s portfolio.
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ASI said that the acquisition will enable it to deliver investment solutions across all vehicle types and boost its smart beta capability by introducing strategies within an ETF vehicle structure.
ASI CEO for Americas Chris Demetriou said: “ASI has been offering passive, quant and Smart Beta solutions to clients for some years now, managing over $84 billion in assets in these strategies. The expansion of our capabilities into the ETF space shows our commitment to providing the largest range of solutions to our clients in the U.S.”
In November 2017, ETF Securities agreed to sell its European exchange-traded commodity, currency and short-and-leveraged business to WisdomTree Investments. The deal, valued at $523m, was completed in April this year.
In March 2018, ETF Securities completed the sale of its European ETF platform named Canvas to Legal & General Investment Management.
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