Industry Updates

Amundi expands climate ETF range with European small-cap and Pacific ETFs

The new ETFs are a result of the latest round of Lyxor ETF mergers

Theo Andrew


Amundi has expanded its climate transition benchmark (CTB) range with European small-cap and Pacific equity ETFs following a fresh round of Lyxor mergers.

The Amundi MSCI Europe Small Cap ESG Climate Net Zero Ambition CTB UCITS ETF and the Amundi MSCI Pacific ESG Climate Net Zero Ambition CTB UCITS ETF will list on the Deutsche Boerse on 10 March with total expense ratios (TERs) of 0.35% and 0.45%, respectively.

The European small-cap strategy will merge three existing ETFs comprising the Lxyor MSCI Europe Mid Cap UCITS ETF, the Lyxor MSCI Europe Small Cap UCITS ETF and the Amundi MSCI Europe Low Size Factor UCITS ETF (CEM).

It will track the MSCI Europe Small Cap ESG Broad CTB Select index and house roughly $116m assets under management.

Meanwhile, the Pacific equity ETF will track the MSCI Pacific ESG Broad CTB Select index having absorbed the Lyxor MSCI Pacific UCITS ETF.

Amundi told shareholders they will benefit from “greater levels of operational efficiency and economies of scale”.

Both indices exclude companies whose products have a negative ESG score and overweight those with a strong score while aiming for a carbon footprint reduction of 30% and an annual decarbonisation reduction of 7% versus the parent index.

The strategies will be labelled Article 8 under the Sustainable Finance Disclosure Regulation (SFDR).

Amundi’s latest round of merges will also see the $87.8m Lyxor MSCI EM ESG Leaders Extra UCITS ETF (LESG) rolled into the $2bn Amundi Index MSCI Emerging Markets SRI PAB UCITS ETF (EMSRI).

Outside of the firm’s climate range, the Lyxor FTSE China A50 UCITS ETF (CBCHN) will be merged with the newly-created Amundi MSCI China A II UCITS ETF, which tracks the MSCI China A Net Total Return index with a TER of 0.40%.

The French asset manager has merged several ETFs over the past couple of months after it complete the purchase of Lyxor in January 2022.

Last December, Amundi switched the Lyxor ESG Euro Corporate Bond UCITS ETF to a Paris-Aligned Benchmark (PAB) index, renaming it the Amundi EUR Corporate Bond Climate Net Zero Ambition PAB UCITS ETF.

Meanwhile, Amundi switched the index on its €570m Japan equity ETF to a CTB, renaming the fund the Amundi MSCI Japan ESG Climate Net Zero Ambition CTB UCITS ETF (J1GR).

It comes after Amundi downgraded its €19bn Paris Aligned Benchmark (PAB) and CTB range in November last year.

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