New Listing

Mexican issuer to enter European ETF market

Finamex and HANetf will partner on the white label issuer's first fixed income product

Jamie Gordon

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Mexican broker Casa de Bolsa Finamex SAB de CV is set to enter the European ETF market via HANetf, on the white label issuer’s first fixed income strategy, ETF Stream can reveal.

Subject to approval, the product will be Finamex’s first UCITS ETF and will list on Bolsa Mexicana de Valores (BMV) and exchanges in Europe in the first half of 2022.

Finamex provides access to the Mexican stock market through the capital, derivatives and exchange markets products it offers to private and professional investors.

Its first venture in ETFs will make it the first Mexican financial services company to launch its own UCITS ETF on BMV. It will also be HANetf’s first ETF for a Latin American client and its first entry into fixed income.

In a statement, the two firms said the UCITS wrapper is gaining popularity in Latin America due to recognition of its regulatory and governance structure, as well as preferential tax treatment of UCITS vehicles versus the ’40 Act’ structure.

Eduardo Arturo Carrillo Madero, CEO of Finamex, said: “These types of products have grown immensely in Mexico thanks to the presence of other global players and Finamex wants to position itself as a major player in the Mexican UCITS ETF market.

“This will be the first of many UCITS ETF products by Finamex.”

Hector McNeil, co-founder and co-CEO of HANetf, added: “Finamex will be the first Mexican firm to use HANetf to launch an ETF and is being developed primarily to be sold to Mexican investors.

“We believe that many more Latin American financial services companies and asset managers will want to add UCITS ETFs to their product portfolio and will be inspired by the foresight of Finamex.”

This move into the Mexican ETF market by HANetf follows the firm’s announcement last July that it plans to expand into the US in 2022.

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