Canadian asset manager AGF Management has closed the acquisition of 100% of FFCM, a US-based asset manager and ETF adviser.
FFCM offers a range of factor-based alternative and smart-beta ETFs as well as ETF managed solutions.
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AGF purchased majority of the equity of FFCM in November 2015. Terms of the transaction were not disclosed.
The acquisition of FFCM led to the launch of a quantitative investment platform called AGFiQ Asset Management. The AGFiQ team comprises investment professionals from AGF, FFCM, and AGF’s majority-owned subsidiary Highstreet Asset Management.
Since its inception in 2017, AGFiQ offered nine ETFs for the Canadian marketplace and secured over $400m in institutional funding for its custom solution in the US.
AGF executive vice-president and COO Judy Goldring said: “Today, we further build on our strategic plan to diversify across the investment spectrum. Through organic growth and acquisition we have been able to launch new platforms and develop innovative products.”
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By GlobalDataFFCM CEO Bill Carey added: “Partnering with AGF has allowed us to grow our research, marketing and product development capabilities, while also bringing us operational scale and efficiencies.”
