Twenty-two ETFs have been transferred from Société Générale Asset management (SGAM) to Lyxor International Asset Management, as part of the reorganisation of the asset management business within the Société Générale Group.
The ETFs affected include 14 quoted on Euronext, four on Deutsche Bourse and four on Borsa Italiana. As a consequence of the transfer, they will be renamed.
Lyxor - which is a 100% controlled by Société Générale - says this move would not have any effect in terms of management objectives, investment strategy, mnemonic and ISIN codes or fees incurred by the funds.
Alternative investments and quantitative management activities of SGAM Alternative Investments and SGAM Index have also been transferred to Lyxor Asset Management and Lyxor International Asset Management.
Two additional entities, Lyxor Asset Management Inc. in New York and Lyxor Asset Management Ireland in Dublin, will join Lyxor's existing units in Paris, Tokyo and Luxembourg.
With the transfer of these activities to Lyxor Asset Management and Lyxor International Asset Management, the company's overall assets under management reach €78.7bn.
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