Wealth Manager - the site for professional investment managers

Register to get unlimited access to Citywire’s fund manager database. Registration is free and only takes a minute.

US ETF giant takes Boost stake

US ETF giant takes Boost stake

WisdomTree, a US exchange-traded fund (ETF) group with £20 billion of assets under management, has acquired a majority stake in Boost ETP.

WisdomTree bought a 75% stake in Boost, with co-founders Hector McNeil and Nik Bienkowski retaining a 25% stake, and will invest £12 million to expand into Europe through the company.

The US firm will launch a range of Ucits ETFs under the WisdomTree brand, and has committed to growing Boost’s own suite of short and leveraged products.

‘Today’s announcement marks the latest in a series of measured steps we have taken to participate in global ETF market growth,’ said WisdomTree’s chief executive Jonathan Steinberg.

‘As the second largest ETP market after the US, Europe is a strategically important market and is the next natural step given our stage of development. Europe will represent our most significant international effort to date, and we are pleased to enter this market with an accomplished team.’

Bienkowski (pictured) and McNeil founded Boost in 2011, having previously run ETF Securities. The pair will become joint chief executives of the newly formed WisdomTree Europe.

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.
Citywire TV
Brewin's Gutteridge: Yuan direction

Brewin's Gutteridge: Yuan direction

This week Brewin Dolphin's research head chats to Fidelity Asian Investment Directors Jenny Lee and Gary Monaghan about the big changes in China.

Play On the Road Challenge: horsing around on the polo pitch

On the Road Challenge: horsing around on the polo pitch

Libby Ashby takes to the polo pitch with Stuart Leigh-Davies from Redmayne-Bentley for an 'On the Road' challenge.

Brewin's Gutteridge: where Miton's Godber sees value

Brewin's Gutteridge: where Miton's Godber sees value

This week Brewin Dolphin's research head talks to George Godber, co-lead fund manager of the Miton UK Value Opportunities fund, about value investing.

Your Business: Cover Star Club

Profile: what tempted Brewin's Glasgow team over to Rathbones?

Profile: what tempted Brewin's Glasgow team over to Rathbones?

Rathbones’ Glasgow office has only been open for three months but the team, led by Angus Kerr, has already attracted new clients

Wealth Manager on Twitter