Legal & General UCITS ETF to convert to Irish ICAV structure
Move aims to enhance operational flexibility and align with evolving regulatory frameworks for European ETFs.
Legal & General Investment Management (LGIM) announced plans to convert its UCITS ETF range to an Irish ICAV structure, pending regulatory approvals.
The conversion, which applies to all existing UCITS ETFs under management, is designed to improve operational efficiency and provide greater regulatory alignment for the fund range. Irish ICAVs, or Irish Collective Asset-management Vehicles, are a common structure for European funds due to their flexibility and tax efficiency.
LGIM stated the move reflects broader industry trends toward Irish domiciliation for UCITS funds, offering enhanced governance and scalability. The conversion process is expected to begin in the coming quarters, subject to approval from the Central Bank of Ireland and other relevant authorities.
The decision follows similar conversions by other asset managers seeking to optimize fund structures amid evolving European regulatory requirements. Irish ICAVs are widely used by global asset managers for their ability to accommodate diverse investment strategies while maintaining compliance with EU regulations.
LGIM did not disclose specific financial impacts or changes to investor terms as part of the announcement.
Priya covers listed equities and corporate earnings, reading quarterly results and guidance for what they signal about sector health and forward valuations.
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