New Listing

AXA IM unveils European equity Paris-Aligned climate ETF

TER of 0.14%

Theo Andrew

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AXA Investment Managers has expanded its Paris-Aligned Benchmark (PAB) range with the launch of a European equity ETF, ETF Stream can reveal.

The AXA IM MSCI Europe Equity PAB UCITS ETF (AIME) is listed on the Deutsche Boerse with a total expense ratio (TER) of 0.14%.

AIME tracks the MSCI Europe Climate Paris Aligned index which offers exposure to large and mid-cap companies across developed markets in Europe.

It will target companies following the decarbonisation trajectory of the Paris Agreement, representing a 50% initial greenhouse gas emission reduction relative to their parent indices and will an additional 7% decarbonisation annually.

The index, labelled Article 8 under the Sustainable Finance Disclosure Regulation (SFDR), also excludes companies involved in thermal coal mining and oil and gas or power generation among other business activities.

Olivier Paquier (pictured), global head of ETF sales at AXA IM, said: “Investors we meet are continuously looking for more tools to produce added value and reduce their exposure to climate risks, if possible in a transparent, simple and cost-effective way.

“We are excited to launch AIME, an extra building block that offers those investors exposure to European companies while trying to reduce their exposure to transition and physical climate risks, with specific requirements.”

It takes AXA IM’s range of ETFs to eight housing roughly $1.8bn assets under management since it entered the market in December 2022.

Last November, the French asset manager launched three ETFs, two actively-managed US bond strategies and a passive US equity ETF.

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