The Press and Journal (Inverness, Highlands, and Islands)

North-east man’s in­vest­ment firm lists on Lon­don mar­ket

- BY KEITH FIND­LAY Finance · Investing · Business · London · London School of Economics · New York City · United Kingdom · Manhattan · Crossroads · Robert Gordon · Aberdeenshire · Wood · Forbes · Forbes, Minnesota · United States of America · Europe · European Union · London Stock Exchange

“Giv­ing ac­tive in­vestors ac­cess to a new type of in­vest­ment”

A new list­ing on Lon­don Stock Ex­change (LSE) has a give­away clue about the ori­gins of the high-fly­ing in­vest­ment plat­form’s high­fly­ing founder and chief ex­ec­u­tive.

New York-based Gran­iteShares joined the UK mar­ket last Fri­day, and Will Rhind, the north­east loon behind it, was in­vited to per­form LSE’s cer­e­mo­nial open­ing of trade to mark the oc­ca­sion.

Mr Rhind, 40, calls Man­hat­tan home th­ese days, but he grew up in Crathes and at­tended Cross­roads Pri­mary School, near Dur­ris, and Robert Gor­don’s Col­lege in Aberdeen.

He counts Gar­reth Wood among his friends and once told Forbes mag­a­zine he was in­spired by Mr Wood’s bil­lion­aire father, north­east en­trepreneur Sir Ian Wood. Gran­iteShares, launched in the US in 2016, pays homage to his north­east roots, and Mr Rhind says it is al­ready shak­ing up the fi­nan­cial ser­vices in­dus­try.

It gives in­vestors ac­cess to ex­change traded prod­ucts, which are types of se­cu­ri­ties that track un­der­ly­ing stocks, an in­dex or other fi­nan­cial in­stru­ments.

Fri­day’s UK launch for Gran­iteShares is the first step of a broader roll-out into main­land Europe.

The firm’s of­fer­ing in the US ranges from low­cost ac­cess to gold to high in­come and “dis­rup­tive” eq­uity in­vest­ing.

As of Oc­to­ber 31, the value of its as­sets un­der man­age­ment stood at £538.7 mil­lion.

Mr Rhind said: “At Gran­iteShares we’re giv­ing ac­tive in­vestors ac­cess to a new type of in­vest­ment that didn’t ex­ist before.

“We’re proud to bring this new in­no­va­tion to the UK mar­ket.

“The con­ve­nience and trans­parency pro­vided by ETPs means that in­vestors with the ap­petite and ex­pe­ri­ence to use lever­age can trade through in­vest­ment plat­forms rather than hav­ing to open a mar­gin ac­count.

“At a time when it has be­come sta­tis­ti­cally harder and harder to ac­tu­ally make money in the mar­kets and out­per­form, Gran­iteShares is giv­ing in­vestors the abil­ity to ex­press very fo­cused views, both long and short, on pop­u­lar UK sin­gle stocks through ETPs.”

He added: “Prod­uct in­no­va­tions like th­ese give more choice to in­vestors who, thanks to their abil­ity to ac­cess mar­ket data and com­pany news in real time, are bet­ter in­formed than ever before.

“Our re­search has shown that many of th­ese tech­nol­ogy-em­pow­ered in­vestors are look­ing for new ways to take ad­van­tage of mar­ket op­por­tu­ni­ties.”

His­tor­i­cally, ac­cess to lever­age on sin­gle com­pa­nies has been the do­main of spe­cial­ists such as hedge funds.

Gran­iteShares says it has re­moved the com­plex­ity, giv­ing “so­phis­ti­cated” in­vestors the chance to

“ex­press high con­vic­tion views in a trans­par­ent, ac­ces­si­ble way”.

 ??  ?? HIGH FLYER: Will Rhind, who calls Man­hat­tan home, gets trad­ing un­der way at Lon­don Stock Ex­change, be­low
HIGH FLYER: Will Rhind, who calls Man­hat­tan home, gets trad­ing un­der way at Lon­don Stock Ex­change, be­low
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