ETF provider Source has mandated Northern Trust to provide fund administration services for its newly launched LGIM Commodity Composite Source ETF. The index is sponsored by UK-based Legal & General Investment Management (LGIM).
The fund, which tracks the LGIM(R) Commodity Composite Index(TM), is designed to offer a diversified exposure to commodities in a UCITS compliant ETF. The LGIM Commodity Composite Source ETF complements Source’s existing range of exchange traded commodities.
Ted Hood, CEO of Source said: “We partnered with Legal & General Investment Management (LGIM) to create an ETF to track this groundbreaking index, and are delighted to continue to work with Northern Trust whose specialist and proven expertise, systems and operations in the field of ETF servicing will ensure our specific requirements are met.”
“We are delighted to continue to provide ETF administration to Source’s range of ETF solutions, and, in particular, this new fund,” said Liam Butler, managing director of Northern Trust Securities Services Ireland (NTSSI).
(JDC)