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Spa ETF appoints two non-executive directors


Exchange-traded fund provider Spa ETF, which launched its first family of enhanced ETFs on the London Stock Exchange in September, followed by its listing on the American Stock Exchange th

Exchange-traded fund provider Spa ETF, which launched its first family of enhanced ETFs on the London Stock Exchange in September, followed by its listing on the American Stock Exchange this month, has appointed Tom Finlay and John Broughan as non-executive directors.

The appointments bring a wealth of experience to Spa ETF’s senior management, according to director Daniel Freedman. ‘Tom and John are a valuable addition to the Spa ETF board as we continue to grow our business in Europe,’ he says.

‘As our first non-executive directors, they will provide critical, independent perspectives on our management decisions to ensure we continue delivering investment tools that have been proven to generate superior performance.’

Finlay holds non-executive board positions with various international financial services institutions based in Dublin’s International Financial Services Centre. He also runs his own consultancy business, the Finlay Consultancy, providing strategic advice on client service and relationship management.

Before that Finlay held various senior positions at Bank of Ireland Asset Management and had a long-standing involvement with the Irish Association of Pension Funds, as well as the statutory body, Irish Pension Board.

John Broughan is chairman of Intesa Bank Ireland, a director of Old Mutual International (Ireland), and a board member for various Irish-domiciled investment funds and special purpose vehicles. He was previously head of international banking at Allied Irish Banks and has more than 40 years’ experience in banking and financial services.

Spa ETF launched its initial family of US equities-focused ETFs in London in September, the Spa MarketGrader 40, 100, 200, Large Cap, Mid Cap and Small Cap funds, becoming the first provider of enhanced ETFs on the exchange.

The funds use 24 quantitative filters within four main areas (growth, value, profitability and cash flow) to carry out a fundamental evaluation of more than 5,600 North American stocks. Each index periodically adjusts its holdings to ensure an equal weighting for all stocks and to ensure holdings are of optimal grade.

Spa’s ETFs are based on the fundamentally driven indices created by US research company MarketGrader, which says they have proven the ability to outperform major US market indices on a regular basis.

London-based Spa ETF was established earlier this year to offer private and institutional investors access to ETFs tracking fundamental US-focused indices. The company is supported by London & Capital, an independent firm of investment advisers and asset managers with USD3bn in assets under management and offering services including investment expertise, research, quantitative analysis and regulatory authorisation.

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