Source Taps Northern Trust for Admin on New ETF Product
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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