San Francisco’s ETF Securities Limited, which develops Exchange Traded Commodities (ETCs), said it has obtained a $10 million equity commitment from FTVentures.
From the statement:
Following the recent listings of ETCs on the London Stock Exchange, Deutsche BÃ¶rse, and Euronext Amsterdam, total assets under management have increased by 100% since the end of September 2006 to US$285 million, with its latest Commodity Securities growing rapidly to over $100 million in less than four months.
“ETF Securities’ has already established a brand name in Europe for its compelling product offering and is led by a seasoned and well-respected management team,” said Ben Cukier, partner at FTVentures and new board member at ETF Securities. “The demand for ETFs and ETCs over other investment products, such as mutual funds, continues to grow exponentially. ETF Securities brings the product development and management expertise to open up other asset classes and unique investment strategies for cost-effective investing as they have already done for commodities.”
(Originally posted 1/31)