As Kranefuss notes, integral to Source’s success has been its independent, pure-play status, meaning the firm is exclusively devoted to ETFs and not distracted by other financial services operations.
“As a global independent ETF firm, we are unconstrained internally and free to partner with the world’s leading money managers and other providers of investment content, while still enjoying the support of the largest financial institutions and trading firms,” said Kranefuss in the statement. “These partnerships put Source in a uniqueposition to offer investors access to investment strategies to serve their needs that were previously unavailable and give world class managers exposure to an untapped audience.”
Source’s first U.S. ETF tracks the EURO STOXX 50 Index, which is one of the most widely followed developed market benchmarks in the world after the S&P 500. France and Germany combine for over two-thirds of that index’s weight. Top holdings in the index include France’s Total (NYSE: TOT), Europe’s third-largest oil company, and French pharmaceuticals giant Sanofi (NYSE: SNY). [European Dividend Growth]
EURO STOXX 50
Charts Courtesy: STOXX
ETF Trends editorial team contributed to this post. Tom Lydon’s clients own shares of SPY.