Italian issuer Fineco Asset Management is set to enter the European ETF market with the launch of two thematic strategies tracking cybersecurity and semiconductors.

The Fineco AM MSCI ACWI IMI Cyber Security UCITS ETF (FAMMAI) and the Fineco AM MSCI World Semiconductors and Semiconductor Equipment UCITS ETF (FAMMWS) are set to list on the Borsa Italiana on 9 September with total expense ratios (TER) of 1%.

Once launched, Fineco AM will be the the only Italian ETF issuer in market. In 2019, UniCredit launched three ETFs unveiled on the Deutsche Boerse that were later delisted. 

FAMMAI tracks the MSCI ACWI IMI Cyber Security index which offers exposure to large, mid and small-cap stocks across 23 developed markets and 24 emerging markets.

This includes companies that provide hardware and software products, cybersecurity services, implementing and managing network security protocols and ensuring data integrity.

FAMMWS replicates the MSCI World Semiconductors and Semiconductor Equipment index which is currently a basket of 34 large and mid-cap companies involved in semiconductors.

It is 82.8% weighted towards the US, 10.2% the Netherlands and 4.3% Japan, as at the end of July.

The launches come after the subsidiary of Fineco Bank announced its intention to enter the ETF market in Q3 this year in its latest set of results.

The move follows the introduction of its range of index funds which launched in 2018.

Fineco AM has €24.5bn in assets under management (AUM), €14.6bn of which were retail money and €9.9bn institutional, as at the end of June.

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