Source Taps Northern Trust for Admin on New ETF Product

This is the extension of an existing relationship between Northern Trust and Source.

Northern Trust will provide fund administration to LGIM (Legal & General Investment Management) Commodity Composite Source ETF, a fund that was launched earlier this month by Source, which is based out of London and provides exchange-traded products for Europe.

"We saw the need for a well-constructed commodity index, providing diversified exposure, at a reasonable cost and in a UCITS-compliant fund," says Ted Hood, CEO of Source.

The launched exchange-traded fund (ETF) tracks the LGIM Commodity Composite Index. This is the continuation of an existing relationship as Northern Trust provides administration on other Source products.

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