Asset manager L&G has launched the L&G S&P 100 Ucits ETF, giving investors exposure to the largest US mega cap companies.
The ETF tracks the S&P 100 NTR Index, which measures the performance of 100 companies from the S&P 500. Constituents are typically the biggest names in the index that also have listed options.
Representing roughly two-thirds of the S&P 500 by market capitalisation, the fund provides access to many of the most liquid and widely held US stocks. L&G said the fund aims to offer investors simple, transparent and cost-effective exposure to the core of the US equity market.
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David Barron, global head of index & ETFs at L&G, commented: “US mega caps have historically benefitted from stable earnings, strong balance sheets, and durable business models. This ETF complements the recently launched L&G S&P100 Equal Weight ETF and we are excited about this new addition to our core equity ETF range. By launching this product, we seek to enable investors to choose their preferred way to access high-quality US mega caps, based on individual factors such as risk tolerance, diversification and views on the market.”
Fiona Boal, global head of equities at S&P Dow Jones Indices, said: “We are pleased to continue our collaboration with L&G on the index licensed for their L&G S&P 100 UCITS ETF, further expanding access to US equity benchmarks in Europe. The S&P 100 Index offers exposure to some of the largest and most liquid companies in the US market and reflects the performance of businesses with strong fundamentals.”
