Amundi is merging its Lyxor global sector ETFs with its ESG equivalent funds while slashing fees on the seven-strong range.
The French asset manager said the merges, which will see €484m assets under management transfer from the Luxembourg-domiciled Lyxor ETF range to the Ireland-domiciled Amundi ETFs, will take place on 28 June.
Amundi said the decision was taken to merge the ETFs following an “ongoing review of the competitiveness of the product range and evaluating consumer interest”.
It is the latest sign of the firm’s strategy to shift part of its ETF range to Ireland as it looks to capitalise on the nation’s favourable tax treaty with the US.
Last October, ETF Stream revealed Amundi launched 10 global ESG sector ETFs with €600m seeding from a Dutch investor.
In March, Europe’s largest asset manager said it was accelerating its move to domicile ETFs in Ireland after receiving regulatory approval to launch a selection of US equity ETFs already housed in Luxembourg.
Following the changes, Lyxor ETF investors will see their fees cut from 0.30% to 0.18%.
The Amundi range is labelled Article 8 under the Sustainable Finance Disclosure Regulation (SFDR).
The changes will affect the following ETFs:
Existing ETFs | Absorbing ETFs |
The Lyxor MSCI World Communications Service UCITS ETF (TELW) | Amundi S&P Global Communication Services ESG UCITS ETF (WELX) |
Lyxor MSCI World Consumer Staples TR UCITS ETF (STAW) | |
Lyxor MSCI World Consumer Discretionary TR UCITS ETF (CODW) | Amundi S&P Global Consumer Discretionary ESG UCITS ETF (WELJ) |
Lyxor MSCI World Energy TR UCITS ETF (NRGW) | |
Lyxor MSCI World Industrials TR UCITS ETF (INDW) | |
Lyxor MSCI World Materials TR UCITS ETF (MATW) | |
Lyxor MSCI World Utilities TR UCITS ETF (UTLW) |
