Industry Updates

Amundi to merge global financials, Europe ESG and US breakeven ETFs with Lyxor equivalents

Jamie Gordon

Amundi Asset Management logo on screen

Amundi is continuing to streamline its product range with plans to merge its global financials sector, Europe ESG leaders and US breakeven inflation ETFs into larger equivalent Lyxor products which it acquired last year.

Effective 7 September, the $103m Amundi MSCI World Financials UCITS ETF (CWFU), $96m Amundi MSCI Europe ESG Leaders Select UCITS ETF (SADE) and $57m Amundi Index Breakeven Inflation USD 10Y UCITS ETF (BINFU), respectively, will be absorbed by the $566m Lyxor MSCI World Financials UCITS ETF (FINW), $1.3bn Lyxor MSCI Europe ESG Leaders UCITS ETF (ESGE) and $76m Lyxor US$ 10Y Inflation Expectations UCITS ETF (INFU).

Investors in the Amundi ETFs will change to holding shares of the Lyxor strategies of equal value, however, the Lyxor products will be renamed under the Amundi ETF brand.

Investors in CWFU will continue tracking the MSCI World Financials index through FINW but the fees will be reduced from 0.35% to 0.30%.

SADE investors will switch from tracking the MSCI Europe ESG Leaders Select 5% Capped index to the MSCI Europe ESG Leaders index and will see the fees on the ETF rise from 0.15% to 0.20%. 

Holders of BIFU will change from directly replicating the iBoxx USD 10-Year Breakeven Inflation (Futures) index to indirectly replicating the Markit iBoxx USD Breakeven 10-Year Inflation index. The fees will also increase from 0.16% to 0.25%.

The news marks just the latest in a series of roll-ups by Europe’s largest asset manager following its acquisition of Lyxor from Société Générale last January.

In June, Amundi merged seven Luxembourg-based Lyxor global sector ETFs with its own Ireland-based ESG equivalents.

The month before, the firm merged three Lyxor Treasury bond ETFs with Amundi equivalents before doing the same with two floating rate bond strategies.

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