Legal & General Investment Management plans to launch 20 ETFs by the end of 2018 as it expands into the European retail market.
The fund house, which manages nearly £1trn of assets globally, says it will launch new ETFs in the UK and Europe in all asset classes within core strategies, smart beta, ESG and areas such as robotics, mobile payments and pharmaceutical services.
LGIM, which acquired ETF platform Canvas in 2018, offers 20 index funds across multi-asset, active equity, income and property strategies.
But LGIM head of retail distribution for EMEA Simon Hynes, who joined the firm in 2015 after spending 12 years at Jupiter, says LGIM will never become a full passive provider.
Speaking to Money Marketing, Hynes says: “The LGIM UK team is new. We don’t see ETFs as passive but as another wrapper. Wealth managers are using more ETFs while advisers continue to use more funds than ETFs because they can’t access them through platforms, but that will change over time.”