Source is a major ETF provider in Europe and now the asset manager has its sights set on America with its first product launch, said Lee Kranefuss, Executive Chairman at Source. Kranefuss introduced the Source EURO STOXX 50 ETF, which is comprised of 50 of the largest companies domiciled in the Eurozone and is the primary hedging tool used by global trading desks. Kranefuss previously founded iShares and sold it to industry giant BlackRock in 2009. He said the ETF market continues to expand and there is plenty of new money on the sidelines seeking innovative new funds, offering Source an opportunity to crack the US market.
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