Amundi is solidifying its Irish-domiciled ETF lineup after regulators approved the duplication of Luxembourg-housed US equity ETFs to be domiciled in Ireland.
The French asset manager, the second largest ETF issuer in Europe, plans to duplicate six existing ETFs, including the S&P 500 ESG Ucits ETF and the S&P 500 Climate Net Zero Ambition PAB Ucits ETF.
Two new ETFs will also launch – the MSCI World ESG Climate Net Zero Ambition CTB Ucits ETF and the MSCI North America ESG Climate Net Zero AMvition CTB Ucits ETF.
Like other fund structures regulated in Ireland, ETFs are treated as tax neutral. Ireland also does not apply withholding tax to dividends paid to non-Irish investors.
Amundi began domiciling new ETFs in Ireland in May 2022.
According to analysis by ETFbook, there were 199 ETFs with €286.8 billion in assets under management domiciled in Ireland at the start of 2017, while Luxembourg housed 146 ETFs with €108.1 billion in AUM.
At the start of 2023, Ireland hosted 67% of the total European ETF market, with 1,789 strategies representing €896.5 billion in AUM. Luxembourg housed €260.5 billion.
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