BlackRock completes deal for Credit Suisse’s ETF arm
Blackrock has completed the purchase of Credit Suisse’s ETF business as part of an expansion into the Swiss market.
The 58-strong ETF range, which currently has $8.1 billion in assets across equities, fixed income and gold, will be rebranded as iShares ETFs.
The funds invest primarily in Swiss indices, including the Swiss benchmark index SMI, and the Swiss Domestic Government Bonds Index (SBI).
David Blumer, head of EMEA at BlackRock said: “Switzerland is an important market for us. We believe that more investors will have an interest in owning financial products denominated in Swiss francs and we want to serve them.
“This acquisition is just one sign of BlackRock’s commitment to Switzerland and it deepens and expands our presence in this market.”
This article was first published on Investment Week