Eurizon SLJ Capital, the London-based investment division of Eurizon, which manages €384 billion in assets for Italian banking giant Intesa Sanpaolo, has announced the launch of its inaugural Irish-domiciled actively managed exchange-traded fund (ETF). This new product is introduced in collaboration with Connect ETFs, a novel platform designed to bridge asset managers with leading ETF service providers.
The ETF, named CO Eurizon SLJ EM Bond Strategic Income Ucits ETF, has amassed €102 million in assets under management (AUM) as of July 17, 2024. Notably, it does not follow a specific benchmark. Instead, the ETF seeks to deliver emerging market income while incorporating risk characteristics typically associated with developed markets.
Carne Global Fund Managers (Ireland) will serve as the management company for the ETF, while Citi will act as administrator, custodian, and depositary.
The ETF will be overseen by Eurizon SLJ Capital’s London-based team, which is led by Stephen Jen, CEO and co-CIO, and Fatih Yilmaz, co-CIO. It is currently listed on the Irish Stock Exchange and is anticipated to debut on the London Stock Exchange by late 2024.
Matt Jones, head of distribution at Eurizon SLJ Capital, emphasized the value of the new ETF, stating, “Our quality-enhanced active EM bond ETF offers investors a transparent, cost-effective, and flexible means of accessing emerging market bond income with developed market risk characteristics. This product is managed by a diverse team and underpinned by our research-driven investment approach.”
Jones also highlighted the growing interest in active ETFs in Europe, noting, “It is an exciting time for active ETFs, with increasing demand for high-conviction bond ETFs, either as a complement to passive funds or as a standalone investment.”
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