Industry Updates

Amundi slashes fees across 33 ETFs

Fee cut on €11bn S&P 500 ETF

Lauren Gibbons

Beniot Sorel 1

Amundi has cut the fees across 33 ETFs including its $12.5bn S&P 500 ETF.

The fee reductions are across its suite of core equity, ESG and fixed income ETFs, with the Luxembourg-domiciled Amundi S&P 500 II UCITS ETF (SP5) total expense ratio (TER) falling from 0.07% to 0.05%, making it the joint second cheapest in the market.

Elsewhere, the Amundi US Treasury Bond 1-3Y UCITS ETF (U13G) is now the cheapest in Europe following a one basis point reduction to 0.06%, undercutting the iShares USD Treasury Bond 1-3yr UCITS ETF (CU31) at 0.07%.

The French asset manager also cut the fee of the $3.1bn Amundi EURO STOXX 50 II UCITS ETF (C50U) from 0.15% to 0.09%, while the $4.5bn Amundi Index MSCI Europe UCITS ETF (CEG2) is now the third cheapest in Europe with an ongoing charge of 0.12%, behind the HSBC MSCI Europe UCITS ETF (HMEU) and the UBS ETF MSCI Europe UCITS ETF (UB12).

The $1.6bn Amundi Euro Government Bond 1-3Y UCITS ETF (MTA) now matches the iShares € Govt Bond 1-3yr UCITS ETF (CBE3) and the SPDR Bloomberg 1-3 Year Euro Government Bond UCITS ETF (EU13) with fees standing at 0.15%, making them the cheapest on the market.

Benoit Sorel (pictured), global head of Amundi ETF, indexing and smart beta, said: “We appreciate the importance of cost-efficiency in investment and these reductions will help investors achieve their investment objectives without compromising on quality.

“By lowering fees on such a diverse range of ETFs, we are making it easier for investors to benefit from our extensive product lineup.”

Amundi launched Europe’s lowest-fee all-world ETF in March, with fees of less than half of its closest competitor.

It marks a signal of intent from Amundi after the Sorel recently told ETF Stream how it plans to fend of the challenge of its “vocal” rivals.

It is the latest in the ETF fee war that has returned to Europe in recent months, with DWS, UBS AM, Invesco and State Street Global Advisors (SSGA) all cutting fees across their ranges, including the headline-grabbing cut to the SPDR S&P 500 UCITS ETF (SPY5).

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