L&G Asset Management Opens New Luxembourg Office
The firm expands its international footprint as ETF assets under management surpass the $30 billion mark.
Updated on Oct. 27, 2026 in Investing
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L&G Asset Management has officially opened a new office in Luxembourg to bolster its international distribution capabilities. This move accompanies a period of significant growth, with the firm seeing its ETF assets rise by more than 50% since January 2025.
Why it matters
The expansion reflects rising institutional demand for specialized investment exposures and greater control over portfolio construction. L&G is positioning itself to bridge the gap between traditional passive indexing and active investment strategies.
L&G now manages over 30 billion USD in ETF assets and more than 100 billion EUR for European clients. Additionally, the firm oversees over 50 billion GBP in liquidity assets as it scales its global infrastructure.
The players
L&G Asset Management
This is a major global financial services firm that provides investment, savings, and protection products to millions of customers.
Elena Marene Cardella
She currently serves as the Head of Index & ETF Investment Specialists at L&G.
Pauline Plunkett
She serves as the Managing Director for the European asset management business at L&G.
Ludovic Le Du
He is the global head of ETF and Index Distribution at L&G.
SS&C Calastone
This firm operates a global fund transaction network that utilizes digital infrastructure to facilitate fund distribution.
The details
The firm is heavily investing in digital infrastructure, including the integration of liquidity funds into SS&C Calastone's Tokenised Distribution Network. This technological push is intended to support the firm's broader international strategy and prepare for the introduction of active ETFs.
Timeline
January 2025 marked the beginning of the period used to measure the 50% growth in ETF assets.
Elena Marene Cardella joined the firm in February 2026 as Head of Index & ETF Investment Specialists.
Liquidity funds became available through the Tokenised Distribution Network in April 2026.
Pauline Plunkett was named Managing Director for the European asset management business in September 2026.
Ludovic Le Du was appointed as global head of ETF and Index Distribution in October 2026.
Market Dynamics
L&G is adopting digital infrastructure like SS&C Calastone's Tokenised Distribution Network to modernize legacy fund distribution channels. This shift aligns the firm with broader industry efforts to increase efficiency in the middle ground between passive and active management.
Institutional investors may gain access to a broader suite of active ETF products and tokenized liquidity funds in the near future. These developments could offer more granular control over portfolio composition for those utilizing the firm's distribution channels.
The takeaway
The expansion into Luxembourg signals that major asset managers are prioritizing digital-first distribution to capture institutional market share. Investors should watch for the firm's upcoming shift into active ETF strategies as a potential indicator of broader market product trends.
What happens next
L&G plans to introduce a range of active ETFs later in 2026.
Further reading
For more on evolving fund strategies, visit Investing.
Source note: This article includes information reported by Delano.
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