Aberdeen Standard Investments has announced the purchase of the $2.8bn US business of commodity ETF provider ETF Securities.
The deal, whose financial terms remain undisclosed, enables Aberdeen Standard Investments to add a range of commodity-based ETFs and to grow its existing smart beta capability by launching strategies within an ETF structure.
The list of the funds being acquired comprises: ETFS Bloomberg All Commodity Strategy K-1 Free ETF, ETFS Bloomberg All Commodity Longer Dated Strategy K-1 Free ETF, ETFS Bloomberg Energy Commodity Longer Dated Strategy K-1 Free ETF, ETFS Physical Swiss Gold Shares, ETFS Physical Platinum Shares, ETFS Physical Silver Shares, ETFS Physical Precious Metals Basket Shares, ETFS Physical Palladium Shares.
Chris Demetriou, chief executive, Americas at Aberdeen Standard Investments said: “The needs of our clients are evolving, and we need to be able to offer the full range of solutions to our clients. For some, active solutions will be right and, for others, passive and Smart Beta options will be the solution. ASI has been offering passive, quant and Smart Beta solutions to clients for some years now, managing over $84bn (€69.8bn) 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 US.”
Standard Life Aberdeen’s assets under management or advisory amounted to $778.8bn (€647.2bn) as of 31 December 2017.