ETF TV News #114 Gareth Stobie discusses 10X’s plan to acquire CoreShares and the outlook for ETFs in South Africa with Margareta Hricova and Deborah Fuhr on ETF TV. PressPlay
10X Investments has agreed to a 100% cash purchase of CoreShares, creating a full-service South African indexing investment specialist with more than R31 billion in assets under management.
The deal is subject to regulatory approvals, but no delays are expected.
10X Investments CEO Tobie van Heerden said: “This deal brings together two great South African businesses with a shared investment philosophy and clear alignment around purpose.”
The purchase advances 10X’s evolution into a leading, full-service rules-based investment manager providing a full suite of investment products across the various distribution channels. Also, the deal acknowledges the value-adding role of quality financial advice in various contexts. CoreShares’s significant, established intermediated offering will complement 10X’s strong direct-to-client business.
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Last week, there were 19 new listings from 16 issuers and there were 42 new cross-listings.
After a five year wait the first crypto ETFs were listed in Australia last week. Three ETFs were listed the ETFS 21Shares Bitcoin ETF (EBTC), the ETFS 21Shares Ethereum ETF (EETH) and the Cosmos Purpose Bitcoin Access ETF (CBTC). CBTC is a feeder fund that buys units in the Purpose Bitcoin ETF (BTCC) listed on the Toronto Stock Exchange while EBTC and EETH invest directly in the underlying crypto securities.
The SPDR MarketAxess Investment Grade 400 Corporate Bond ETF (LQIG) which is designed to provide bond investors with access to U.S. corporate bonds with higher relative liquidity and tradability was listed on the NYSE.
Invesco listed 2 ETFs providing exposure to mainland Chinese securities: the S&P 500 China A 300 Swap UCITS ETF (C300) and the Invesco S&P China A MidCap 500 Swap UCITS ETF (C500). Both ETFs are listed on the London Stock Exchange, Deutsche Boerse, Borsa Italiana and SIX Swiss Exchange.
ETFGI reports the global ETFs industry gathered US$31.42 billion in net inflows in April 2022 https://bit.ly/3stXxSH
ETFGI reports ETFs industry in Europe gathered US$17.10 billion in net inflows in April 2022 https://bit.ly/3wkyYIU
Issuers last week include: 21Shares, Bosera Asset Management, Cosmos Asset Management, Dimensional, E Fund Management, Empiricus, ETF Securities, Gabelli Funds, GF Fund, Hanwha Asset Management, Invesco, JP Morgan Asset Management, Migdal, SPDR ETFs, Timefolio, Woori Asset Management
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