Eurizon SLJ Capital lists its first emerging markets equity ETF on the LSE: three share classes in euros, pounds and dollars

The three instruments, structured as Connect ETFs ICAVs, offer investors exposure to a strategy focused on the 30 highest-quality stocks in emerging markets.

The structure: Connect ETFs ICAV

The three ETFs are housed within Connect ETFs ICAV, an Irish structure with segregated liability between sub-funds. The Connect ETFs platform, launched as a white-label product by Market Access Asset Management and NTree International Limited, provides asset managers with access to selected UCITS service providers.

Carne Global Fund Managers (Ireland) Limited acts as the management company, whilst Citi serves as administrator, custodian and depositary. The structure is domiciled in Ireland, with its registered office in Dublin.

The ETF: CO Eurizon SLJ EM Equity Magnificent 30 UCITS ETF

The fund, known as the “CO Eurizon SLJ EM Equity Magnificent 30 UCITS ETF”, commenced operations on 25 March 2026 with initial assets of approximately $13.88 million. The investment objective is long-term capital growth through investment in equities issued by companies in emerging markets.

The name ‘Magnificent 30’ suggests a strategy focused on a limited number of selected stocks, in contrast to traditional passive ETFs that track broad indices such as the MSCI Emerging Markets. Eurizon SLJ Capital’s approach combines top-down macroeconomic analysis with bottom-up company selection.

The manager: Eurizon SLJ Capital

Eurizon SLJ Capital Limited is the UK subsidiary of Eurizon, the asset management arm of the Intesa Sanpaolo Group. The joint venture was formed in 2016 when SLJ Macro Partners, founded in 2011 by Stephen Jen and Fatih Yilmaz, sold a 65% stake to Eurizon Capital SGR.

Stephen Jen (CEO & co-CIO) and Fatih Yilmaz (co-CIO) lead the London-based management team. In November 2025, the team acquired the business of Fideuram Asset Management UK, expanding the platform’s capabilities.

The market context

Today’s listing marks Eurizon SLJ Capital’s second ETF in emerging markets, following the launch in July 2024 of the CO Eurizon SLJ EM Bond Strategic Income UCITS ETF, an actively managed bond fund that debuted on the London Stock Exchange on 14 January 2025.

Eurizon SLJ Capital’s entry into the emerging markets equity segment comes against a backdrop of significant growth in the European active ETF market, which has risen from $6.1 billion at the start of 2015 to $32.9 billion by the end of 2023, according to ETFbook data.

Considerations for investors

The three share classes offer currency flexibility: the euro-denominated class (M30E) is suitable for investors in the eurozone who wish to avoid exposure to currency risk, whilst the sterling-denominated class (M30G) is aimed at the UK market. The dollar-denominated class (M30) maintains exposure to the US currency, typical of emerging markets.

The accumulation structure provides for the automatic reinvestment of income, with no periodic distribution of dividends.