Société Générale launches commodities ETN platform
As appetite for listed products and the transparency they offer increases, Société Générale (SG) has launched its first exchange-traded notes (ETN) on the London Stock Exchange, giving investors access to single commodities in a variety of currencies.
The 41 ETNs will complement the bank’s range of exchange-traded funds (ETF), which are managed by Lyxor, its ETF arm. However, due to the restrictions of the European Ucits III regulations, ETFs cannot be issued on single commodities and there is demand for exposure to single commodities such as gold, according to Alexandre Houpert, head of listed products for the UK and Europe at SG in London.
“Commodities are now an established asset class and useful to diversify a portfolio but they are often
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