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Amundi Increases ETF Presence On Italian Market

Devina Shah

9 September 2010

Amundi ETF, a subsidiary of the French asset management group Amundi, has listed 15 more exchange-traded funds on Borsa Italiana, the Italian stock exchange, bringing the number of Amundi ETF products available on the Italian market to 60.

The 15 products include six equity ETFs aiming to provide investors with wider geographical exposure, including two which seek to replicate the FTSE MIB, S&P 500 and NASDAQ-100.

The Paris-headquartered firm has also listed eight fixed income ETFs which include a complete range of Euro zone government bond ETFs, aiming to offer investors exposure to a wide range of maturities from three months to 15 years. These products replicate the EuroMTS eurozone government broad indices whether the trend is rising or falling, enabling investors to take positions on the eurozone bond yield curve, the firm said. This listing also includes an ETF that seeks to replicate the performance of the EuroMTS ex-AAA Government Index, offering exposure to debt securities issued by the eurozone member states with a rating lower than AAA, or a lower equivalent rating to S&P, Moody's and Fitch.

There is also one money market ETF, aiming to enable an exposure to the EuroMTS Eonia Investable Index, the eurozone money market reference.

Amundi is jointly owned by Societe Generale and Credit Agricole, with them holding 25 and 75 per cent of the firm respectively.