Sanlam Investment Holdings (SI) has acquired the remaining 50% shareholding in index fund manager Satrix Managers as it looks to expand its ETF offering to the UK marketplace.
SI, which has been the underlying manager for Satrix since its inception and previously held a 50% stake in the firm, acquired the remaining stake in response to the rapid global growth of the index tracking market.
While Satrix is based in South Africa, Sanlam Private Wealth (SPW) chief executive Nigel Speirs said the fact its ETFs are sterling denominated means they are tailored for the UK market.
"This shows Sanlam is taking ETFs very seriously," said Speirs (pictured).
The move to buy the remaining stake in Satrix comes after SPW launched a passive version of its risk management system Accel about three months ago.
According to a BlackRock report, compound growth rate for global ETF assets between 2000 and 2010 was more than 30%. ETFs have surged in popularity as investors have sought fast and efficient access to diverse financial markets.
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