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Money Management

Van Eck to acquire Dutch manager Think ETF Asset Management

Van Eck Associates will acquire Dutch exchange-traded fund manager Think ETF Asset Management, pending regulatory approval.

Van Eck signed a share purchase agreement Jan. 19 with former owners Binckbank and Flow Traders, and senior management of Think ETF Asset Management, said a news release from Van Eck Associates.

Senior management of Think ETF Asset Management will retain a minority stake in their business, the news release said.

Jorg Schuren, a Van Eck spokesman, said in an email that the parties to the transaction agreed not to disclose the purchase price.

Mr. Shuren added that Think ETF Asset Management "will be retained as brand in its own right. Eventually, we will want to work with Think ETF under the same roof and form a unified brand to position ourselves with a joint presence on the market."

Think's ETF strategies will help its new parent company expand its share of the ETF market in Europe, said Jan F. van Eck, CEO, in the news release.

"ETFs have seen a significant uptake from the investment community in Europe over the past several years, and there are events on the horizon that appear likely to spur an even greater migration to the ETF structure in European markets," said Mr. van Eck said.

Martijn Rozemuller, a Think ETF Asset Management managing director, added in the release: "The next few years look to be especially transformative and may spur ever greater investor interest in the ETF category."

Van Eck manages a total of $46 billion in institutional strategies, mutual funds and ETFs. Think ETF Asset Management manages €1.5 billion ($1.8 billion) in ETFs.