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U.S. Bank (NYSE:USB) started new exchange-traded services in Europe, signing up its first client, Horizon Kinetics, for the offering.
The company will support Horizon Kinetics’ European version of its Inflation Beneficiaries ETF, an actively managed fund that seeks to invest in businesses that thrive in an inflationary environment.
The fund is structured as a UCITS ETF and will initially trade on Euronext Amsterdam. UCITS ETFs are products based in European markets that are subject to Undertakings for the Collective Inestment in Transferable Securities regulation.
U.S. Bank (USB) will provide a range of offerings, including fund administration, transfer agency, depositary and global custody solutions, aswell as a number of specialized European exchange-traded fund services.
“We are in a position to service both existing U.S. Bank ETF relationships who plan to expand their ETF distribution into Europe, as well as new clients aiming to launch funds in the European ETF space,” said Ken Somerville, head of U.S. Bank Global Fund Services Ireland.
Along with the launch of ETF servicing in Europe, U.S. Bank (USB) is expanding its relationship with Intercontinental Exchange as it adopts the ICE ETF Hub as a front-end and order entery platform for U.S. Bank’s ETF clients.