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Wednesday, May 11, 2016|
Truscott Builds and Buys Into Smart Beta
Ted Truscott is buying a smart beta shop.
EGA launched its first ETF in 2009. It now has nine emerging markets equity ETFs with a combined $892 million in AUM. Columbia Threadneedle has more than 2,000 people and $464 billion in AUM.
Marten Hoekstra, CEO of EGA and former head of UBS's U.S. wealth management business, states that his team "is excited about joining Columbia Threadneedle Investments." He sees the deal as offering EGA's clients "access to Columbia Threadneedle's rich investment expertise." Robert Holderith, president and founder of EGA, points to Columbia Threadneedle's "expansive footprint across global markets" as providing EGA "an opportunity to accelerate the growth of [its] smart beta platform."
The deal comes after Columbia Threadneedle filed for its own smart beta equity ETFs in Q1 2016.
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