Legg Mason Inc. announced Monday that it launched an international version of its Low Volatility High Dividend ETF as the Baltimore money manager looks to strengthen its global diversity.
The Legg Mason International Low Volatility High Dividend ETF, made up of international stocks, is designed to give investors access to the higher return potential of international stocks through an ETF, or exchange traded fund, intended to offer stability and less volatility.
Legg CEO Joseph A. Sullivan has emphasized the significance of a broader global reach as Legg looks to diversify its products, customer base and investments.
"Being global has never been more important than it is today," Sullivan said at the company's July 26 annual meeting.
While some investors and consumers are still skittish of international markets, following the United Kingdom's vote to leave the European Union, Sullivan believes globalization is key to the firm's growth.
The new international ETF will focus on stocks of profitable companies with high dividend yields, low price volatility and consistent earnings.
"This ETF seeks to generate attractive levels of income from dividends, create long-term appreciation while addressing equity and currency market volatility and downside risk," said James Norman, President of QS Investors, an independent affiliate of Legg Mason, in a statement.
The new international ETF is benchmarked against the QS International Low Volatility High Dividend Hedged Index.
This story has been updated to reflect the correct spelling of James Norman's last name.
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