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Rating:Two U.S. ETF Giants Bid for Credit Suisse Group's Business Not Rated 0.0 Email Routing List Email & Route  Print Print
Friday, October 19, 2012

Two U.S. ETF Giants Bid for Credit Suisse Group's Business

News summary by MFWire's editors

Two U.S. asset managers are among the bidders for Credit Suisse Group's European ETFs. Reuters reported that the unit is for sale on Friday. All counted the 58 Credit Suisse ETFs hold some $17.2 billion of AUM, making the family the fourth largest in Europe.

Bids for the block of business were due in early October, according to the report. Among those making reportedly offers were State Street Global Advisors (SSgA) and BlackRock.

BlackRock already is number one in Europe, with $309 billion of ETF AUM in that market spread across 192 funds. Indeed, it claims 40 percent of the market in Europe.

Meanwhile, State Street claims just on percent of the market. It has 41 SPDR ETFs with just $3 billion in AUM in Europe. 

Edited by: Sean Hanna, Editor in Chief

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