Industry Updates

Amundi to overhaul $1.7bn US Treasury, euro corporate and US equity ETFs

Two ETFs will lose their Amundi 'prime' branding

Jamie Gordon

Amundi Asset Management logo on screen

Amundi is set to change the underlying indices on its US Treasury, euro corporate and US equity ETFs and increase the fees on two of the strategies.

Effective 4 October, the $74m Amundi Prime US Treasury Bond 0-1Y UCITS ETF (PR1T) will change from tracking the Solactive US Treasury Bond 0-1Y index to the Bloomberg US Treasury index and will be renamed the Amundi US Treasury Bond 0-1Y UCITS ETF.

PR1T’s new index provides exposure to short-term US dollar-denominated Treasury bills, bonds and notes.

Meanwhile, the $1bn Amundi Prime Euro Corporates UCITS ETF (PR1C) will go from replicating the Solactive Euro IG Credit index to the Bloomberg Euro Corporate Bond index and will be rebranded the Amundi EUR Corporate Bond UCITS ETF.

PR1C’s new index captures the euro-denominated investment-grade corporate bond market.

The rebrands will see two ETFs removed from Amundi’s low-cost ‘prime’ range, with PR1C also set to have its total expense ratio (TER) increased from 0.05% to 0.07%.

Elsewhere, from 29 September the $680m Amundi MSCI USA UCITS ETF (CU2) will undergo an ESG makeover, going from tracking the MSCI USA index to the MSCI USA ESG Leaders Select 5% Capped index and being renamed the Amundi MSCI USA ESG Leaders UCITS ETF.

CU2 will see its fees increase from 0.28% to 0.35% and will be upgraded from Sustainable Finance Disclosure Regulation (SFDR) Article 6 to Article 8.

The ETF will become just the latest in Amundi's range to get a green overhaul amid the firm’s plans to change its $33m Amundi MSCI Europe Energy UCITS ETF (ANRJ) from capturing fossil fuel companies to hydrogen energy producers last week.

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