Eurizon Capital is set to enter the European market with the launch of an active ETF.
The asset management arm of Intesa Sanpaolo Group will be the latest issuer to enter the market with an active ETF, an increasingly competitive part of the ecosystem.
Eurizon said it was still awaiting regulatory approval for the launch, adding only that it would target UK investors.
In a statement, Eurizon said: “I can confirm that Eurizon is working through its UK subsidiary Eurizon SLJ Capital on plans to launch an active ETF for the UK market, where this type of product is having great success, but the operation is still subject to regulatory approval.”
The Milan-based asset manager houses roughly €392bn assets under management across several actively managed funds.
Assets in active UCITS ETFs have increased five-fold since the start of 2015, from $6.1bn to $32.9bn by the end of 2023, according to data from ETFbook.
JP Morgan Asset Management has the largest market share in active ETFs, with $14bn AUM.
A recent survey by Blackwater found 77% of European mutual fund managers see active ETFs are an opportunity for them to expand into.
Over the past 18 months, AXA Investment Managers, abrdn, Horizon Kinetics and Investlinx have all launched active ETFs in response to growing demand while Robeco is set to enter the market this year.
