BetaShares announces expansion into New Zealand
BetaShares has announced the opening of its New Zealand office, located in Auckland.
BetaShares has seen funds under management (FUM) grow from ~A$10 billion at the start of 2020 to more than A$17 billion at the end of April 2021. The fund manager is projecting strong growth to continue, and is committed to a strategy to further invest in growth.
BetaShares Chief Executive Officer, Alex Vynokur, said: “Since the launch of our first product over a decade ago, we have established ourselves as a leader in the Australian ETF industry. Over the years, we have developed a number of long-standing relationships with institutions and advisers in New Zealand, which we have to date serviced out of our Australian offices. We are now excited to deepen our presence in the New Zealand market via a local office, which will help us to better service the needs of New Zealand investors with our extensive range of intelligent investment solutions.”
Thom Bentley has been hired as Director of Adviser and Institutional Business and will be located in the Firm’s New Zealand office. Mr Bentley has more than 30 years’ financial services experience and most recently worked at Smartshares, New Zealand’s only ETF manager, where he was responsible for institutional business.
In addition to SmartShares, Thom has a depth of experience gained at firms such as Remarkable Capital, Nomura Asset Management, Macquarie and Scottish Widows.
Mr Vynokur continued: “We are very pleased to have Thom join us as the first local team member in New Zealand. Thom has demonstrated over many years his ability to add value to a range of institutional and advisor investors.”
Mr Bentley said: “I am excited to be the first local hire for BetaShares in New Zealand. BetaShares have built a reputation as a leading, innovative ETF manager in Australia, and have been involved in New Zealand since their inception. I am thrilled to be part of this next phase of the business’s development as we aim to further extend the Firm’s presence in this market.”