Behind the hype ETFS still struggle to convince

Exchange traded funds continue to proliferate in Europe, despite adverse market conditions, poor distribution and no accepted method for their application. Guy Warner is chief investment officer of a boutique investment manager for high net worth individuals, Riggs & Co International, part of Riggs Bank. His business, set up two and a half years ago, is predicated on the existence of ETFs. Riggs has grown up along with the European segment. But so far, it is fair to say, Riggs & Co International has hardly set the world alight. At the end of May, assets under management were only 30 million.