The Press and Journal (Inverness, Highlands, and Islands)
North-east man’s investment firm lists on London market
“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”.