Tuesday, August 16

Global X ETFs attracts 50 million in its first year: it will open an office in Spain and prepare ‘crypto’ products

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Global X ETFs, the manager founded on Wall Street by the Spanish Bruno del Ama and José Carlos González in 2009, it is about to complete its first year of activity in Spain with a good rate of recruitment. Accumulate entries to your exchange-traded funds of more than 50 million euros, about 50% of its growth in Europe, a business whose volume amounts to 120 million. And he already prepares his landing with a local office and cryptocurrency products.

The figures have been shelled by Luis Berruga, CEO of Global X, in a virtual presentation to the press. The manager, owned by the Korean Mirae Asset Financial Group, has had a growth of more than 100% globally, which has allowed it to climb this year from seventeenth place to eleventh in the ranking of North American management companies with indexed products, and more than doubling their assets from 21,000 to $ 44 billion (about 39,000 million euros) worldwide.

The firm, a specialist in thematic funds, has taken the opportunity to announce the launch of eight new European UCITS ETFs listed on Deutsche Börse Xetra, LSE and Borsa Italiana, on robotics and artificial intelligence, cybersecurity, clean technologies, electric and autonomous vehicles, electronic commerce, fintech, the Internet of things and copper miners.

They join the five products of the entity that European investors could already enjoy, up to a total of 13: video games and sports, telemedicine, infrastructure in the United States, genomics and biotechnology and cloud services.

Among the business plans of Global X ETFs for the European continent in 2022, are to launch crypto-asset products, double the number of available ETFs and open local offices throughout Europe. For now, acknowledges Berruga, “we have had the best reception in England and Switzerland, the two countries that were most comfortable and familiar with American ETFs even before we launched European ETFs ”, although Spain and Italy have been pleasantly surprised by the high interest shown.

Indexed products will triple

Regarding digital assets, they are already working on the launch of ETPs that give access to cryptocurrencies “with current regulation.” Regarding the opening of an office in Spain, Berruga has advanced that he expects it to be ready for the second quarter of 2022.

“To save Brexit, we are creating a entity in Ireland, What management company, which will serve as the central office for European business. We hope to have the necessary European and Irish regulatory approvals in the first quarter and, once we have this office enabled, it will be a matter of weeks how long it takes to set up the Spanish office, which would be for the second quarter, with two or three start-up people ” , according to its CEO.

The growth forecasts made by the manager of the ETFs and index funds business in Europe in general are very positive. The current industry is at 1.6 trillion euros as a whole, and its calculation happens because triples to 4.5 trillion in the next three years, between now and 2024.


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