The latest offerings in investments, such as funds and structured products, and other notable developments.

Legal & General Investment Management
Exposing investors to the “significant growth potential” of digital payment technologies, Legal & General Investment Management has launched the L&G Digital Payments UCITS ETF.

The ETF will provide thematic exposure to payment acquirer and card issuers, payment gateways and processors, as well as payment technology and card-less payment services providers. The digital payments market reached $58 billion in 2020 and is expected to grow at around 19 per cent compounded annually between 2021 to 2028.

The new fund invests in companies with a minimum capitalisation of $200 million and a minimum three-month average daily trading volume of $1 million, drawn from around 150 companies engaged in the digital payments industry which are primarily listed in developed markets, South Korea and/or Taiwan.

It is listed on the London Stock Exchange, Deutsche Börse and Borsa Italiana and is labelled under article eight of the EU’s Sustainable Finance Disclosure Regulation (SFDR). A monthly review will ensure that no individual company exceeds 15 per cent of the portfolio, the group said.

James Crossley, head of UK retail sales at LGIM, said the firm has seen "sustained demand" for targeted exposure to long-term structural trends such as moving towards cashless societies. The new ETF gives investors “access to the growth of the cashless economy through a highly liquid product,”  he said.