Legal & General produces first index for Source commodity ETF

LGIM enters the index world

Legal & General Investment Management (LGIM) and Source have partnered to launch a commodity exchange-traded fund (ETF) that tracks LGIM's first index, the LGIM Commodity Composite Index, which offers exposure to a selection of what the two firms call 'best of breed' commodity indexes.

"We weren't very satisfied with any of the individual commodity indexes and their very different constituents and methodologies, which produce markedly different performance," says Nick Hodges, business

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