Source registers 59 ETFs in Spain

Nov 5th, 2014 | By | Category: Equities

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Source, a London-headquartered provider of exchange-traded funds, has announced that 59 of its ETFs have been registered with the Comisión Nacional del Mercado de Valores (CNMV), Spain’s securities market regulator.

Source registers 59 ETFs in Spain

Source has announced that 59 of its ETFs have been registered with Spain’s securities market regulator, making them available for public distribution across the country. (Photo © beamillion)

Registration with the CMNV means the products are now available for public distribution in Spain.

Commenting on the development, Stefan Garcia, Managing Director and co-head of EMEA at Source, said: “The ETF market has been growing rapidly in Europe, through a combination of better products and increased investor awareness. After just five years, Source has amassed approximately $18 billion of assets under management.”

He added: “This rapid growth has been driven by our ability to partner with leading investment firms from around the world, and work with them to deliver innovative solutions that meet investor needs. We then deliver these investment strategies within our liquid and transparent ETF structure.”

The range of ETFs now available to investors in Spain features strategies developed together with Goldman Sachs, JP Morgan, Man GLG, Morgan Stanley and Nomura. This includes ‘smart beta’ strategies that provide alternatives to investing on a traditional market capitalisation weighted basis.

Garcia continued: “The range also provides investors efficient exposure to key equity indices, including the Source S&P 500 UCITS ETF, which is available with a management fee of just 0.05% per annum, and the Source JPX-Nikkei 400 UCITS ETF, which provides access to this new and increasingly important Japanese equity benchmark. We also offer ETFs that provide exposure to specific US and European equity sectors, where Source has a strong position in the European ETF market.

Leonardo Lopez, Executive Director responsible for client coverage in Iberia at Source, added: “ETFs have evolved and can now fulfil a wide range of objectives. Investors are also attracted to the overall lower costs of many ETFs and the greater transparency that they offer. We expect this trend to continue as industry regulations tighten for the protection and benefit of investors.”

Source ETFs are listed on the London Stock Exchange, SIX Swiss Exchange, Xetra and Borsa Italiana.

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