LGIM outflows mount as Paris-Aligned ETFs bleed assets

ETF stream2024-05-22

Outflows from Legal and General Investment Management’s (LGIM) ETF have continued to mount this year as investors turn their back on ESG.The asset manager has recorded $2.5bn outflows since the turn ...

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It takes the total number of assets in LGIM's ETFs to $13.9bn AUM. It marks a tough start to the year for the UK giant and comes following a dismal quarter for funds classified as Article 9 under the Sustainable Finance Disclosure Regulation (SFDR).Article 9 funds – both passive and active – recorded outflows of $4.3bn in Q1, according to Morningstar data, however, passive flows were actually in the black over the quarter.While LGIM’s Paris-Aligned Benchmark (PAB) ETFs experienced the brunt of the outflows, LGIM’s thematic range also saw an asset exodus.The $2.3bn L&G Cyber Security UCITS ETF (ISPY) – its largest ETF – has recorded $293m outflows.Meanwhile, investors have pulled $140m and $124m from the L&G ROBO Global Robotics and Automation UCITS ETF (ROBO) and the L&G Battery Value-Chain UCITS ETF (BATT), respectively.Bright spots in LGIM’s ETF range include the L&G India INR Government Bond UCITS ETF (TIGR), with inflows of $65m.The AI boom also helped the L&G Artificial Intelligence UCITS EFT (AIAI) record $113m inflows while the L&G Gerd Kommer Multifactor Equity UCITS ETF (GERD) posted inflows of $94m.The ETF has now gathered $222m assets since it launched in June last year as it looks to make itself a staple in German ETF savings plans.The recent boost in commodities saw investors pour $167m into the L&G Multi-Strategy Enhanced Commodities UCITS ETF (ENCO).The group has continued to expand its ETF range this year, launching the L&G Multi-Strategy Enhanced Commodities ex-Agriculture & Livestock UCITS ETF (XAGR) and the L&G Energy Transition Commodities UCITS ETF (ENTR) last month.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.30.2","shortVersion":"4.30.2","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2437233359"}