Amplify ETFs has announced that it has completed its previously announced acquisition of ETF Managers Group (ETFMG) ETF assets, which consist of over USD3.7 billion of assets under management (AUM) across 14 ETFs (as of 1/26/2024). Amplify ETFs will now manage USD9.1 billion of AUM as of 1/26/2024.
“The completion of Amplify’s first sizable ETF acquisition begins an exciting new chapter for our organisation,” says Christian Magoon, CEO of Amplify ETFs. “Since 2016, Amplify has sought to develop innovative products that provide professionally crafted access to unique market segments and investment strategies. The addition of these ETFs is an extension of our existing product development mandate and allows Amplify to significantly grow its unique investor solution set.”
Magoon adds: “We envision a brighter future for the acquired ETFs as they both complement our existing product line-up and will experience increased awareness and availability due to our current momentum across national accounts, distribution, and marketing. We look forward to engaging with investors on these timely market segments and themes.”
Amplify ETFs writes that it finished 2023 at a record high ETF AUM and shares outstanding. Amplify ETFs grew its AUM by 36 per cent on the year, outpacing the overall US ETF industry’s growth rate of 26 per cent. The completion of this acquisition positions Amplify in the top 13 per cent of ETF sponsors, the firm says.
“While working through the transaction this past year, we remained committed to our overall mission of adding value to investor portfolios,” says William Belden, President of Amplify ETFs. “We launched three new ETFs in areas of the market that were untouched or open for enhancement.”