Industry Updates

US Bank enters European ETF servicing market on Horizon Kinetics launch

Plans to service US and European ETF issuers

Theo Andrew

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US Bank has entered the European ETF servicing market on the launch of the Horizon Kinetics inflation beneficiaries ETF.

The bank will offer fund administration, transfer agency, depository and global custody solutions and a “number of specialised European ETF services” via its $9.8trn investment services division.

It comes after ETF Stream revealed Horizon Kinetic would be entering the European ETF space with the launch of the Horizon Kinetics Inflation Beneficiaries UCITS ETF (INFBN) which is set to list on the Euronext Amsterdam on 23 March.

The active ETF will mirror its US-listed counterpart which has amassed $1.2bn assets under management (AUM) since it launched in November 2021 after receiving strong demand from European investors.

Ken Somerville, head of US Bank Global Fund Services Ireland, said: “We are in a position to service both existing US Bank ETF relationships which plan to expand their ETF distribution into Europe as well as new clients aiming to launch funds in the European ETF space.

“Our team is proud to bring the best of US Bank to both sides of the Atlantic with a global operating model that can accommodate both US and European UCITS funds in a single platform.”

The firm added it will also be working with the Intercontinental Exchange (ICE) via its ICE ETF Hub as a front-end order platform for US Bank clients.

Alun Williams, chief operating officer at Horizon Kinetics, added: “This is a new market for us and we are delighted that US Bank is able to guide us with on-the-ground expertise.”

US Bank will offer its investment service solutions from three European locations; Ireland, London and Luxembourg.

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