Axa Investment Managers has launched a European equity ETF product as part of its Paris Aligned Benchmark (PAB) range.
The Axa IM MSCI Europe Equity PAB Ucits ETF takes the PAB to four ETFs and tracks the performance of the MSCI Europe Climate Paris Aligned Index, net of management fees.
This ETF invests in large and mid-cap companies across developed markets in Europe that are following a decarbonisation trajectory consistent with the objectives of the Paris Agreement. The index also excludes companies involved in specific business activities, such as thermal coal mining, or involved in ESG controversies.
The ETF, which is available on multiple exchanges, is backed by physical stocks and has a total expense ratio of 0.14%. Axa IM said this made the ETF one of the cheapest in its category.
Olivier Paquier, global head of ETF sales at Axa IM, said: “Investors we meet are continuously looking for more tools to produce added value and reduce their exposure to climate risks, if possible in a transparent, simple and cost-effective way.
Axa IM now has a suite of eight Ucits ETFs across equities and fixed income, using passive and active strategies and had $1.8 billion in ETF assets under management at end of December 2023.
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