Industry Updates

Amundi to merge MSCI Spain ETF with IBEX 35 equivalent

LYXIB has a 0.30% fee, five basis points more expensive than the closing ETF

Lauren Gibbons

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Amundi is set to merge its MSCI Spain ETF with its IBEX 35 ETF as the asset manager further consolidates its range following the acquisition of Lyxor.

Effective 5 April, the $79m Amundi ETF MSCI Spain UCITS ETF (CS1) will be absorbed into the $230m Amundi IBEX 35 UCITS ETF (LYXIB), the asset manager said in a shareholder notice.

Both ETFs offer exposure to the performance of the Spanish equity market, with CS1 replicating the MSCI Spain Net Total Return index while LYXIB tracks the IBEX 35 Net Return index.

The two ETFs have different fees and replication methods. CS1, which is synthetic, has a total expense ratio (TER) of 0.25% while LYXIB, which is physical, has a fee of 0.30%.

CS1 will cease trading on the primary market on 29 March, with the stock exchange trading to follow six days later.

Amundi’s ETF range has been in a state of flux since it acquired Lyxor as the French asset manager continues to streamline the two ranges.

Last week, Amundi expanded its climate ETF range with the launch of a US-dollar Paris-Aligned Benchmark (PAB) corporate bond ETF, rebranded from the Lyxor ESG USD Corporate Bond UCITS ETF (USIH).

Last month, Amundi also merged the Lyxor MSCI EM ESG Leaders Extra UCITS ETF (LESG) with the Amundi MSCI Emerging Markets SRI Climate Net Zero Ambition PAB UCITS ETF (EMSRI).

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