Lyxor has announced that it is proceeding with a stock split of the Lyxor Core FTSE Actuaries UK Gilts 0-5Y (DR) UCITS ETF, which will see each current share split into five new shares. To implement the stock split, trading on the ETF will be suspended on 24 and 25 July, recommencing on 26 July.
The ETF is held in AJ Bell’s Managed Portfolio Service for financial advisers, across risk levels 1, 2 and 3, as well as its Income 1 option.
Kevin Doran, chief investment officer at AJ Bell comments:
“This is a change we have been lobbying for and is a good example of an ETF provider evolving their products to make them easier to use in the retail market. The stock split lowers the price of each unit in the ETF making it much more accessible to retail investors.
“This in turn has enabled us to lower our recommended investment amount into our Active MPS from £20,000 to £10,000 making it a feasible option for a wider segment of advised clients.”
Samit Patel - Head of UK Wealth, Lyxor ETF, comments:
“As today’s stock split shows, we are listening to our clients’ needs and those of the investors they serve. Lyxor will continue to strive to provide the highest quality, most appropriate ETFs for the UK market”