Barclays will buy Indexchange Investment, the largest German provider of exchange traded funds (ETFs). It’s assets under management are EUR 15.2 billion, as of Nov.2. It also lists ETFs across Europe, as noted in Marketwatch.com. BGI already has $200 billion in assets and this is likely to contribute to the banks fast growth. The move also fits in with their global strategy and the bank intends to expand into more of Europe and Asia. This will also make Barclays the dominant player in the ETF market in Europe. The exchange will close in 3 months, after appropriate approvals.
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