Europe’s ETF provider Source has forayed into the US market by launching its first Source EURO STOXX 50 ETF (ESTX) on the New York Stock Exchange.
Go deeper with GlobalData
Access deeper industry intelligence
Experience unmatched clarity with a single platform that combines unique data, AI, and human expertise.
The new product launch in the US will be led by a management team headed by co-founders Ted Hood, CEO and Peter Thompson, president alongside executive chairman Lee Kranefuss.
In January this year, Warburg Pincus has acquired a majority stake in the UK-based exchange traded funds provider Source from a group of banks including Bank of America Merrill Lynch and Goldman Sachs.
ESTX will invest in 50 of the largest market cap stocks from 12 Eurozone countries, including Austria, Belgium, Finland, France, Germany, Greece, Ireland, Italy, Luxembourg, the Netherlands, Portugal and Spain.
Thompson said: "Entering the US is the next step in the growth of our global business. We see a tremendous opportunity to deliver market-driven, value-added products to American investors, and are excited about the opportunity to serve the US market."
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData"These partnerships put Source in a unique position to offer investors access to investment strategies to serve their needs that were previously unavailable and give world class managers exposure to an untapped audience," Kranefuss added.
This ETF is collaboration between Source and index provider Stoxx.
