Truss Edge technology supports launch of latest LGIM ETF

Truss Edge, a specialist front, middle and back office technology operations company, is supporting the launch of a new clean energy ETF, which has been launched by Legal & General Investment Management (LGIM).

Truss Edge is also supporting a range of 27 Legal & General exchange traded funds with its core technology platform that has been developed over 20 years and is now used by both ETF managers and hedge funds. Truss Edge supports the automation of the fund manager’s ETF life cycle and its interaction with the market.

LGIM is following an innovative approach to its ETF operations, outsourcing non-core technology and operations for its ETF platform. It is leveraging the straight through processing (STP) advantages offered by Truss Edge’s technology, radically reducing many of the errors that can crop up in manual fund operations.

Truss Edge delivers a true straight through processing experience to ETF fund managers that eliminates human errors and also helps ETFs to focus on reducing their costs and their fees in what is a highly competitive market.

Howie Li, Head of ETFs at Legal & General Investment Management Limited, says: "We believe the market for clean energy is poised for secular long-term growth. We are delighted to have created this product to offer investors in Europe a cost-effective exposure to a unique and diverse basket of stocks that are integral to the world’s growing embrace of cleaner energy.  Working with Truss Edge again for this new launch has enabled us to focus our efforts on the research and design of this new investment strategy as well as engagement with our clients whilst relying on the scalable processes that Truss Edge has built with us to support the growth of our business.”

Dave Shastri, Head of International Strategy at Truss Edge, adds: “The ETF industry is one that should be benefiting from automation. Fund managers launching into the ETF space will be concerned about how they can compete on fees and TERs. Automation, using an outsourced technology solution for STP, is one of the most immediate means of running an economical and efficient operation.”

Founded in 1998, Truss Edge has developed technology solutions that help to automate a range of activities within funds’ data processing environments, including order execution, reconciliation, portfolio accounting support and reporting.

Truss Edge can dynamically manage data within an ETF portfolio on a single platform without any recourse to other solutions. It is flexible enough to manage a wide variety of instruments and strategies, and in addition can cater to thematic ETFs, long/short ETFs and commodity-based ETFs.