ETF Securities Limited (ETF Securities) has agreed to sell its European Exchange Traded Fund platform, known as Canvas, to Legal & General Investment Management (Holdings) Limited (LGIM). ETF Securities to sell its European ETF platform to LGIM.
The business being sold is our ETF platform and excludes the rest of our European operations, which are being sold separately.
The ETF platform comprises an Irish-based UCITS fund and a UK-based investment manager and has $2.7 billion of AUM* spread across 17 products. The Canvas team will be moving to LGIM. As such, there should be very little change in contact or service experienced by customers of our existing business.
The sale is subject to regulatory approval and is anticipated to close in Q1 2018.
ETF Securities has built the Canvas business from scratch to be Europe’s largest independent ETF provider and it is now of a size and quality that can be taken to the next level of growth by a large and highly respected firm such as LGIM. Combining the ETF expertise and capabilities of Canvas with the scale and reach of LGIM should be transformative for existing and new customers.
Our press release can be found here
* Source: ETF Securities, as at 10/11/2017
Please contact us if you have any questions:
Catarina Donat Marques
ETF Securities (UK) Limited
T +44 20 7448 4386
E catarina.donatmarques@etfsecurities.com
Important Information
This communication has been issued and approved for the purpose of section 21 of the Financial Services and Markets Act 2000 by ETF Securities (UK) Limited (“ETFS UK”) which is authorised and regulated by the United Kingdom Financial Conduct Authority (the “FCA”).
