Emerging Global Advisors, the exchange trade funds issuer behind the EGShares family of ETFs, will be acquired by Columbia Threadneedle Investments.
In a statement released Wednesday, Columbia Threadneedle Investments announced an agreement for Columbia Management Investment Advisers, LLC to purchase New York-based Emerging Global Advisors. Terms of the deal were not disclosed. The deal is expected to be finalized later this year.
“With $892 million in assets, EGA has an established presence in the smart beta marketplace. It is the investment adviser to the EGShares suite of nine emerging markets equity exchange-traded funds (ETFs) that track custom-designed indices,” according to the statement.[related_stories]