French manager Amundi has launched a Ucits ETF with exposure to euro government bonds and which will be added to its Prime ETF range.
Amundi Prime Euro Gov Bonds 0-1 Y Ucits ETF will be listed on Deutsche Börse Xetra and provide exposure to euro-denominated bonds issued by Eurozone governments with a 1 to 12-month maturity.
The Prime range was launched by Amundi in 2019 as a low-cost alternative to its traditional passive products featuring reduced fees.
The fund launch comes at a time when European investors are showing an increased risk appetite according to monthly analysis from fund managers including Amundi.
Its latest ETF flows report shows a “predilection for high yielding, less safe assets in almost every asset allocation”.
Fellow French ETF provider Lyxor’s Money Monitor report for September, which analyses European open-ended funds and ETFs found that equity flows surpassed fixed income flows by more than €10 billion in September.
One asset class that has seemingly been immune to the pivot to riskier assets is ESG. Exchange-traded products focused on ESG factors gathered a record €3.9 billion in assets in September, according to Lyxor.
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