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Source breaks USD500m of assets

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Source, a provider of exchange-traded products, says assets in its products have grown to over USD500m just three months after its launch in April 2009. 

Source, a provider of exchange-traded products, says assets in its products have grown to over USD500m just three months after its launch in April 2009. 

Source has also added three salespeople to its pan-European marketing team.
 
Stefan Garcia has joined from ETF Securities, where he was a senior executive, and will be responsible for broad European marketing and distribution.

Ludovic Djebali has joined from Lyxor Asset Management and will be responsible for coverage of French speaking countries

Holger Schmid will be joining from UniCredit and will be responsible for distribution to Germany and Austria.
 
Ted Hood, chief executive of Source, says: ‘Since our launch in April, we have had overwhelmingly positive feedback on our focus on counterparty risk and liquidity. If is gratifying to have investors following through and investing in our products. Stefan, Ludovic and Holger are vital to expanding the range and depth of our investor coverage.’
 
Source currently trades 13 ETFs, 22 treasury bill secured exchange-traded commodites and one physical gold ETC.

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