Lyxor Asset Management, a wholly-owned subsidiary of Societe Generale, is unveiling four physically-replicated exchange-traded funds based on the EuroMTS Macro Weighted AAA Government Index in a move away from its customary swap-based approach. This will take place from 6-11 December.

And the firm has also listed 14 of its largest and most liquid ETFs on the London Stock Exchange. All funds are at least four years old and are tradable in sterling to ensure that they can meet the requirements of UK investors. Nine funds can also be traded in US dollars.

The 14 existing LSE-listed funds on the same indices will be merged into the new listings. The firm said investors holding the existing LSE-listed funds will automatically receive a corresponding number of shares in the new funds. The merger of the old and new funds will take place in three batches and will be completed by 19 December 2012. 

Global assets invested in ETFs and exchange-traded products reached an “all-time high” of over $1.7 trillion at the end of August, according to ETFGI. And while the market for ETPs has expanded rapidly in recent years, there have been concerns about the use of so-called "synthetic products" that make use of swaps to replicate returns.