Aberdeen Standard Investments has acquired the U.S. business of ETF Securities, a provider of commodity exchange-traded products, a spokeswoman said.
Terms of the deal, which closed on Friday, are not being disclosed. The eight ETFs that Aberdeen Standard Investments are purchasing are: the ETFS Bloomberg All Commodity Strategy K-1 Free ETF; ETFS Bloomberg All Commodity Longer Dated Strategy K-1 Free ETF; ETFS Bloomberg Energy Commodity Longer Dated Strategy K-1 Free ETF; ETFS Physical Swiss Gold Shares; ETFS Physical Platinum Shares, ETFS Physical Silver Shares, ETFS Physical Precious Metals Basket Shares, and ETFS Physical Palladium Shares. How, if at all, the funds would be rebranded could not be immediately learned.
These U.S.-based ETF Securities funds have about $2.8 billion in assets under management. Aberdeen Standard Investments' AUM is about $779 billion.
The announcement follows the November 2017 announcement that global exchange-traded product firm WisdomTree would purchase all of ETF Securities' European operations, excluding the exchange-traded funds platform. That deal closed at the end of the first quarter.