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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.

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Profile: The opportunity set that attracted Brett Williams to wealth management

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