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LGIM forecasts greater ETF uptake from UK IFAs and wealth managers post ETF Securities acquisition


LGIM’s purchase of ETF Securities’ Canvas platform, announced this morning, brings ETF Securities’ Howie Li and his team across to the UK’s largest asset manager, which also has USD481 billion in index fund assets.

Global head of index funds at LGIM, Chad Rakvin (pictured), says: “Our entry point with ETF Securities, and we have looked at a number of strategic opportunities over the years, is that they think about products and solutions the same way we do, and value bringing the best types of solutions to investors.”

The Canvas ETF platform has USD2.7 billion of AUM spread across 17 products.  “It’s a diversified product set of equity, fixed income, commodities and thematic ETFs, including smart beta which demonstrates that we really think about content in the same manner,” Rakvin says. “We are bringing the entire infrastructure from the front office to the digital website which will make it a seamless transaction to all existing clients and we are very excited about the prospects going forward.”

Head of UK Retail Simon Hynes comments that the existing LGIM business is very UK orientated which will be taken further afield with the ETF Securities’ purchase.

“We have a deep and broad footprint in the UK,” he says, “while ETF Securities does business in 14 countries – so it is good for us. And we can bring our institutional clients, because we have a great heritage with institutional clients and also our IFA and wealth manager network.

“IFAs have not yet adopted ETFs in a great number in the UK because of platform access issues which came out of the fund world, rather than the listed world, but post RDR, we are seeing an uptick in investment trusts and the same thing will happen with ETFs.”

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