Europe’s largest asset manager Amundi has expanded its core Prime ETF range with the launch of a US corporate bond product in response to client demand.

The Amundi Prime US Corporates UCITS ETF (PR1R) is listed on Xetra with an ongoing charges figure (OCF) of 0.05%, the same price as the rest of the Prime range and the cheapest US corporate bond ETF on the European market.

The ETF will list on the London Stock Exchange and Borsa Italiana (ETFUSC) on 3 October.

As with the rest of the Prime range, PRIR will track the performance of a Solactive index, the Solactive USD Investment Grade Corporate index.

The launch comes after assets in the firm’s core range, which was unveiled in March, passed €500m.

Fannie Wurtz (pictured), head of ETF, indexing and smart beta at Amundi, commented: “Investors’ search for yield means corporate bonds have been the most popular part of Europe’s ETF market this year.”

The launch comes just a week after the firm unveiled a short-dated corporate bond ESG product, the Amundi Index Euro Corporate SRI 0-3Y – UCITS ETF (ECRP3).

Amundi is making a major push in the European ETF market this year and have made a number of significant hires to reflect this.

This intent was highlighted at the start of the year when the firm poached Ashley Fagan from BlackRock to head up its ETF business in the UK and Ireland.

Subsequently, the firm has expanded its capital markets, marketing and sales teams with a number of senior hires. One of these was Pav Sharma, who joined last week from WisdomTree, ETF Stream revealed.