Amundi, Europe’s largest fund manager, has launched a low-cost range of exchange-traded funds (ETFs) with an annual charge of 5 basis points.
The initial launch of nine Amundi Prime ETFs aims to offer investors exposure to fixed income and equity market indices, across a range of geographic regions: Global, Europe, USA, and Japan.
The Luxembourg-domiciled Ucits-compliant ETFs will track indices designed and calculated by Solactive.
The annual charge of 5 basis points compares with an average of 22 basis points (AuM weighted) across Amundi’s existing range of more than 120 ETFs, although one existing product – an ETF with DAX exposure – has ongoing charges as low as 10 points.
Fannie Wurtz, head of Amundi ETF, indexing and smart beta, said: “Our product development strategy has always been based on our constant dialogue with clients who are increasingly looking to include ETFs in their investment solutions.
“Amundi Prime ETF range is built on our experience and outstanding bargaining power as Europe’s largest asset manager. We are confident that this range will meet investors’ needs for cost-efficiency, simplicity and transparency.”
Wurtz added that the Paris-based firm plans to double the assets under management of its ETF, indexing and smart beta business line to €200 billion by 2023.
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