Global X expands into Europe with UCITS ETF business

Dec 2nd, 2020 | By | Category: ETF and Index News

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Global X has announced the launch of a European ETF operation that will serve up selected strategies in a UCITS-compliant format.

Luis Berruga, CEO at Global X

Luis Berruga, CEO at Global X.

The move caps an ambitious year of expansion for the New York-headquartered issuer which listed its first ETFs in Hong Kong in January, debuted in Japan in August through a joint venture with Tokyo-based Daiwa Securities, and introduced no fewer than 11 new ETFs in its home market of the United States.

The push into Europe reflects, in part, the global ambitions of Global X’s parent company, South Korean asset manager Mirae Asset Global Investments, which also maintains an ETF presence in Canada, Australia, and Asia through its Horizons ETFs, BetaShares, and Tiger ETF brands respectively.

Global X’s European division will be based in London and is expected to be managed by senior executives with experience in the European market.

The firm has announced its first two key hires – Rob Oliver, previously Global Head of Beta and Systemic Strategies, Global Wealth Management, at JP Morgan will be responsible for leading the firm’s UCITS ETF distribution as Head of Business Development, while Morgane Delledonne, an ETF Investment Specialist at BMO Global Asset Management, before the firm’s ETF retreat from Europe, has been hired as Director of Research.

According to Global X, the firm will introduce its first two UCITS ETFs within the next few weeks and plans to roll out several more in the coming months.

The precise nature of these ETFs is unclear; however, while Global X boasts a diverse roster of more than 70 products in the US, the firm is perhaps best known for its thematic growth and high-income strategies, and it is likely that the funds will follow along these lines.

Luis Berruga, CEO at Global X, commented: “For over a decade, we have provided investors with intelligent investment strategies, particularly those that serve to enhance growth through thematic investments or boost income through alternative sources. These strategies have been exceptionally well-received around the world, particularly in Europe, making our decision to launch a UCITS ETF offering a clear next step in our growth. We’re thrilled to work closely with Morgane, Rob, and our extended global team, and look forward to expanding our innovative solutions to European audiences.”

“There couldn’t be a more exciting time to join Global X and expand the firm’s reach into Europe,” said Oliver. “In 2019, the European ETF market surpassed €100 billion in net inflows for the first time. There’s immense growth in the adoption of ETFs in Europe, providing an exciting opportunity for us to provide this burgeoning market with the rigorously researched strategies and unique exposures that Global X has become known for.”

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