Société Générale lists first actively managed ETN

SG's Houpert says new ETN minimises costs and operational risks

Société Générale (SG) has listed the world's first actively managed, exchange-traded note (ETN) on the London Stock Exchange, aimed at providing clients of active managers with low-cost, liquid access to their strategies.

The UK Managed Alpha Tracker is managed by Parkstone Asset Management and is based on four asset classes: UK equities, gilts, commodities and cash, which are accessed through the FTSE 100 Total Return Index, Lyxor ETF (exchange-traded fund) £ Gilt, Lyxor ETF CRB and cash on dep