Nov 15, 2017

L&G is coming late to Europe’s $800bn ETF party

After 24 years of sitting on the sidelines, it is finally coming to the ETF party. For L&G, the deal presents an opportunity to capture rapid growth in the European market, by offering products in an ETF wrapper that customers already understand. Wisdom Tree bought $17.6bn of other ETF Securities assets for $611m, which is 3.5 per cent of assets, or a heady 16 times earnings. Globally, the ETF industry has $4.6tn under management and is set for a fourth consecutive year of record-breaking new business. JPMorgan, Franklin Templeton and BMO Global are also launching new ETF ranges in Europe.

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