Courtesy of Benzinga.
ETF Securities, the London-based ETF issuer most known for its commodities funds, has hired Goldman Sachs (NYSE: GS) to manage a sale of the company that could be worth up to $1.6 billion, according to the Financial Times.
Earlier this year, there was speculation ETF Securities found Graham Tuckwell might be mulling a sale or an IPO of his firm, which now lists more than 200 exchange-traded products on various global exchanges.
In the U.S., ETF Securities has seven ETFs with over $2.8 billion in assets under management, according to the firm’s Web site. Overall, the company has $28.2 billion in AUM.
The FT article credits Tuckwell with helping the World Gold Council introduce the SPDR Gold Shares (NYSE: GLD), the world’s second-largest ETF by assets, in 2004.
Among ETF Securities’ more popular U.S.-listed funds are the ETFS Physical Swiss Gold Shares (NYSE: SGOL), the ETFS Physical Silver Shares (NYSE: SIVR), the ETFS Physical Palladium Shares (NYSE: PALL) and the ETFS Physical Platinum Shares (NYSE: PPLT).
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