Industry Updates

Amundi to merge $3.7bn Lyxor global equities ETF with new fund

The ETF will retain its TER of 0.20%

Theo Andrew

Emerging markets south-east Asia

Amundi is merging its $3.7bn Lyxor global equities ETF with a newly created sub-fund within its Luxembourg-domiciled ETF range.

In a shareholder notice, Amundi said the Lyxor MSCI World (LUX) UCITS ETF would merge with the new ETF, the Amundi MSCI World III UCITS ETF, housed on the Amundi Index Solutions SICAV.

The merge is expected to take place on 21 April, with the new ETF set to hold the $3.7bn assets under management (AUM) currently housed by the Lyxor ETF.

The newly absorbed ETF will retain the same product features, including the 0.20% fee and will continue to track the MSCI World Net Total Return index.

Amundi described the merger as a “purely administrative absorption”.

There will be no changes to the $2.5bn Amundi MSCI World UCITS ETF (CW8), which is eligible for the French tax wrapper, the Plan d’Epargne en Action (PEA).

It comes as the French asset manager continues to review its product range after it completed its acquisition of Lyxor in January 2022.

Last week, Europe’s largest asset manager said it would be closing three ETFs tracking European stocks including multi-factor and scientific beta strategies amid low AUM.

It has merged several ETFs over the past six months as it looks to benefit from greater economies of scale and tighten its grip as Europe’s second-largest ETF issuer.

In February, Amundi expanded its climate transition benchmark (CTB) range with European small-cap and Pacific equity ETFs by merging existing Lyxor ETFs.

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