The “long-term strategic partnership” will see two active ETFs “with an income objective” launch and trade on the ASX “within the next couple of weeks”, BetaShares told ifa sister title InvestorDaily.
More active ETFs will be rolled out over time following the initial two, according to a statement from BetaShares.
Legg Mason managing director, Australia and New Zealand Andy Sowerby said they chose to partner with BetaShares for its “extensive ETF experience, track record of growth, capabilities in sales and marketing and broad suite of funds”.
“This partnership allows both Legg Mason and BetaShares to continue to contribute to the industry by broadening the investment options on offer to Australian investors,” Mr Sowerby said.
BetaShares chief executive Alex Vynokur said the team was excited to be working with Legg Mason.
“Combining Legg Mason’s award-winning active management capability with BetaShares deep ETF skillset, the partnership aims to deliver a suite of high quality active ETFs that give Australian investors more solutions to diversify their portfolios and achieve their investment objectives,” Mr Vynokur said.
“With our complementary investment philosophies and the strength and position of both organisations in the marketplace, we are confident this will be a powerful partnership.”
The announcement follows a whitepaper released by BetaShares in October last year, which suggested active ETFs had “significant potential to attract planners who don’t recommend ETFs”.
