LGIM acquires ETF platform Canvas

Bought from ETF Securities

Legal & General Investment Management (LGIM) has bought the ETF Canvas platform from ETF Securities, with plans to develop a broad range of strategies for the European market.

The acquisition includes $2.7bn AUM and 17 products across equity, fixed income and commodities, while the UK and Ireland-based platform is listed on multiple stock exchanges and licensed for distribution in 14 countries. It follows the purchase of the rest of ETF Securities' European business by WisdomTree, which was announced earlier this week. Update: WisdomTree CEO on drivers behind $611m ETF Securities acquisition A team of Canvas employees with specialist ETF skills will join LGIM as part of the transaction, which is subject to regulatory approvals, with both groups working c...