The exchange-traded fund will be available on Euronext Paris and it will also be listed on main European stock exchanges in the coming weeks

European asset management firm Amundi has continued to expand its range of exchange-traded funds with the launch of the European Equity Multi Factor Market Neutral ETF.

The ETF will be available on Euronext Paris and it will also be listed on main European stock exchanges in the coming weeks, the firm said in a statement.

This new UCITS European Equity Multi-Factor Market Neutral ETF looks to give investors long-term potential of factor risk premia without being exposed to the direction of European equity markets.  

The iSTOXX Europe Multi-Factor Market Neutral strategy index will be used and is based on: a “long” exposure into the iSTOXX Europe Multi Factor strategy index (Net Return), made of six factors (carry, low risk, momentum, size, value and quality) and a “short” position against the STOXX Europe 600 Futures Roll EUR Excess Return index to achieve the market neutral stance. 

“In today’s low yield environment, investors are on the lookout for new ways to generate return and diversify their portfolios," said Fannie Wurtz, managing director at Amundi ETF, indexing and smart beta. "We’re proud to be the first in Europe to offer a cost-efficient  all-in-one European Equity Multi Factor Market Neutral UCITS ETF with 0.55 per cent on-going charges.This new ETF shows our ongoing determination to give investors transparent and effective investment solutions.”

In September, this publication reported that Amundi had appointed Thierry de Vergnes as head of debt fund management within its platform for real and alternative assets.