HANetf has partnered with Mexican broker Casa de Bolsa Finamex, SAB de CV ‘Finamex’, to jointly develop a UCITS ETF.
The ETF will be listed both on exchanges in Europe and on Bolsa Mexicana de Valores (BMV) in the first half of 2022.
The firm writes that the UCITS wrapper has increasingly become the wrapper of choice for Latin American investors due to the local recognition of robust regulation and governance structure in place for the industry. Retail demand is thought to be increasing for UCITS products in Latin America as investors prefer the tax treatment of UCITS versus other alternative fund wrappers such as the US 40 Act structure. There is estimated to be multi billions of assets under management held by Latin American investors in UCITS ETFs. This will be the first time a Mexican financial services firm will list its own UCITS ETF on BMV.
The firm writes that Finamex is one of the leading providers of access services to the Mexican Stock Market. They offer financial services to individual, corporate or professional investors in the Mexican money, capital, derivatives and exchange markets, with various direct access products.
HANetf is an independent provider of UCITS ETFs, working with asset managers and entrepreneurial businesses to bring differentiated, modern and innovative products to European ETF investors. HANetf have issued over 30 thematic, crypto and real asset exchange trade products across Europe in the last 3 years for partners in the US, Canada, UK, Europe, the Middle East and now Mexico. This includes Europe’s first space ETF, cannabis and airlines ETF. HANetf’s range of thematic ETFs is the most extensive in Europe. HANetf provides a complete operational, regulatory, distribution and marketing solution to launch and manage UCITS ETFs.
Eduardo Arturo Carrillo Madero, CEO of Casa de Bolsa Finamex says: “Finamex is very excited to launch our first UCITS ETF in partnership with HANetf. 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. Our local distribution is unparalleled and seeks to develop more products that will help our clients reach their long-term investment objectives. This will be the first of many UCITS ETF products by Finamex.”
Hector McNeil, Co-CEO of HANetf says: “We are thrilled to partner with Finamex to launch our first product in Mexico and Latin America. Investor demand is increasingly growing for UCITS ETFs due to strong regulation and robust structure coupled with strong distribution of the products through brokers such as Finamex. HANetf has had a stellar three years, growing to over USD3 billion of AUM, and working with 14 great clients to issue over 30 ETFs. Finamex will be the first Mexican firm to use HANetf to launch an ETF and is being developed primarily to be sold to Mexcian 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. ”