Legal & General Investment Management (LGIM) has partnered with wealth management group Gerd Kommer Invest to expand its presence in the German retail market.
The London-based asset management group, which boasts some £1.3 trillion in assets, signed a partnership with the German wealth firm to launch a co-branded fund.
Both companies have yet to announce the launch date for the first “multi- factor” exchange-traded fund (ETF) as part of the deal, although LGIM confirmed that the ETF will track a global equities index in its preliminary management report to the London Stock Exchange.
“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,” an LGIM spokesperson said in a statement.
“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 has been aggressively growing its ETF operation across Europe since the acquisition of Canvas, the ETF platform formerly owned by ETF Securities, in 2018.