Asset manager Legal & General is joining the growing market for exchange-traded funds with its acquisition of European ETF platform Canvas. The deal will give Legal’s ETFs a new home in Europe, where it has been expanding into traditional asset management and private equity markets. The deal will see L&G assume management of about $2.7bn of assets.
Asset manager Legal & General is joining the growing market for exchange-traded funds with its acquisition of European ETF platform Canvas. L&G said the purchase from ETF Securities is part of its expansion in Europe and fits the company's focus on new products shaping the investment market. The deal will see L&G assume management of about $2.7bn of assets.