Amundi has expanded its environmental, social and governance (ESG) ETF range with the launch of a Japanese equity product.
The Amundi MSCI Japan SRI UCITS ETF (JARI) is listed on Deutsche Boerse and Euronext Paris with a total expense ratio (TER) of 0.18%.
Tracking the MSCI Japan SRI Filtered ex Fossil Fuels index, JARI is comprised of large and mid-cap Japanese stocks.
JARI’s benchmark includes an exclusion process that removes companies that have significant involvement in the fossil fuel industry.
Its objective is to only include companies that have high ESG score and also remove companies that do not comply with MSCI’s ESG values.
JARI is market-cap weighted and includes a 5% capping on issuer weights. It is comprised of 68 stocks, down from 320 in its parent index.
Its largest holding is Nintendo with 5.6% weighting ahead of Daikin Industries with 5% and Sony with 4.7%.
Earlier this month, in its bid to push sustainable strategies to clients, the French asset manager switched the benchmark for its S&P 500 ETF to an ESG version.