Legal and General Investment Management (LGIM) is intensifying its push into the German retail market as it eyes the launch of a co-branded multi-factor ETF with investment firm Gerd Kommer Invest.
The ETF will track global equities and will be launched “in due course”, an LGIM spokesperson said.
It comes as the UK giant recently entered a partnership with the Munich-based wealth manager which houses €720m assets under management (AUM). (...)
“As an innovative provider of investment solutions, LGIM is always exploring opportunities to collaborate with third-party experts in different areas to provide value for its clients,” LGIM said.
“We have recently entered into a partnership with German investment management firm Gerd Kommer Invest, with a view to innovate in the ETF investment space and to launch a co-branded multi-factor global equities ETF in due course.”
LGIM is looking to build on the growth it has seen in its ETF business, with revenues tripling to $3.8m since it purchased Canvas in 2018, according to its latest set of financial results.
It added it was looking to expand its offering in “higher-margin product areas” such as thematic ETFs.
The firm launched four thematic ETFs in the second half of 2022 including the L&G Metaverse ESG Exclusions UCITS ETF (MTVR).