AXA Investment Managers has launched its first rules-based passive ETF tracking the Nasdaq 100, just two months after it entered the European ETF market in September.

The AXA IM Nasdaq 100 UCITS ETF (ANAU) has listed on the Deutsche Boerse with a total expense ratio (TER) of 0.14%, the cheapest Nasdaq 100 exposure on the European ETF market by six basis points.

Tracking the Nasdaq 100 index, ANAU offers market-cap-weighted exposure to the largest US and international non-financial companies listed on the Nasdaq stock exchange.

The index incorporates companies involved in technology, telecommunications, healthcare, utilities, industrials, materials and consumer discretionary sectors.

Commenting on the launch, an AXA IM spokesperson told ETF Stream: Seeking to track the performance of one of the pre-eminent US equity indices by investing in securities comprising the Nasdaq 100 Index, home to the biggest modern-day industrial and technology companies in the US, ANAU complements AXA IM’s existing and recognised franchise of technology funds.

After months of speculation, the French asset manager finally re-entered the ETF market with the launch of two active thematic ETFs, the AXA IM ACT Biodiversity Equity UCITS ETF (ABIU) and the AXA IM ACT Climate Equity UCITS ETF (ACLT), in September.

The launches mark the firm’s first ETFs since it sold its joint business, EasyETF, to BNP Paribas Asset Management in 2009, a platform that now houses approximately €33.8bn assets under management (AUM).

In September, AXA IM Core’s global head Hans Stoter told ETF Stream the firm would mainly focus on active ETFs by leveraging its mutual fund offering so the launch of ANAU represents a shift away from this strategy.

ANAU will be available to institutional investors globally and retail investors in Germany, the Netherlands, Luxembourg, Denmark, Finland and Sweden.

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