ETF Securities, the exchange traded products firm overseeing $21.9 billion of assets, has launched CANVAS, a service for asset managers who want to build and launch white-labelled ETFs in Europe.

Such white-labelled ETFs are made and packaged by ETF Securities but labelled under varying brand names.

CANVAS will provide services such as the ability to build ETFs, set up a bespoke platform; convert existing UCITS funds into ETFs or add an ETF share class to a UCITS fund, according to a statement from ETF Securities.

“Asset managers have been steadily increasing their own use of ETFs for some time and recognise that it is one of the highest growth areas within the industry with approximately $1.439 trillion invested in the US alone. However, many do not have the infrastructure, expertise or resources to build their own products,” Graham Tuckwell, chairman of ETF Securities, said.

“To date we have already received strong interest from asset managers in Europe, the US and China,” Tuckwell said.