Amundi builds out ETF offering on SIX Swiss Exchange

Jan 31st, 2018 | By | Category: Equities

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Amundi has cross-listed four equity ETFs onto SIX Swiss Exchange in Zurich, expanding its offering for Switzerland-based investors looking for locally listed access.

Amundi cross-lists four equity ETFs to SIX Swiss Exchange

SIX Swiss Exchange, Zurich.

Three of the ETFs track MSCI indices, while the fourth tracks an index from S&P Dow Jones Indices.

They include Europe ex-Switzerland, world energy, world financials and global luxury exposures, all based on developed-market equities.

Europe ex-Switzerland

The Amundi MSCI Europe ex-Switzerland UCITS ETF (CS9 SW) trades in euros and has a total expense ratio (TER) of 0.30%. It tracks the MSCI Europe ex-Switzerland Index, which captures large- and mid-cap representation across 14 developed market countries in Europe.

With 409 constituents, the index covers approximately 85% of the free float-adjusted market capitalization across European developed markets excluding Switzerland. The UK accounts for a third of the total index exposure, followed by eurozone giants France (19.2%) and Germany (17.7%), and to a lesser extent The Netherlands (6.4%) and Spain (5.8%). Financials tops the sector exposures with a fifth of the total exposure, followed by industrials (13.7%) and consumer staples (12.3%).

Global energy

The Amundi MSCI World Energy UCITS ETF (CWEUSD SW) trades in US dollars with a TER of 0.35%. The underlying MSCI World Energy Index captures the performance of energy sector companies (as defined by the Global Industry Classification Standard (GICS)) across 23 developed market countries.

Despite its global reach, companies listed in the US (56.6%), the UK (16.6%), and Canada (12.1%) collectively account for over 85% of the total index weight. Over half (54.8%) of the index exposure is to integrated oil & gas companies, while those firms engaged in oil & gas exploration and production account for a further fifth (19.5%) of the total weight.

Global financials

The Amundi MSCI World Financials UCITS ETF (CWFUSD SW) trades in US dollars and has a TER of 0.35%. It tracks the MSCI World Financials Index, capturing the performance of large- and mid-cap GICS-defined financial sector firms from across 23 developed market countries.

The underlying index is heavily concentrated towards North America stocks, with the US contributing 48.1% of the index and Canada 8.3%. This is followed by the UK (8.1%) and Japan (6.3%). Banks (52.9%) and insurance companies (22.3%) make up over 75% of the total exposure.

Global luxury

The Amundi S&P Global Luxury UCITS ETF (GLUX SW) trades in euros and has a TER of 0.25%. It has also been listed with a US dollar-denominated share class under the ticker LUXU SW. The underlying S&P Global Luxury Index tracks 80 of the largest companies globally which are engaged in the production or distribution of luxury goods or the provision of luxury services. Companies are selected for inclusion by S&P’s equity research team according to primarily qualitative factors such as companies’ revenues by business area and market perception of their industry segment.

The index comprises securities from 12 different countries and across several sectors. To ensure investability, constituents must be listed on a developed market and have a minimum three-month average daily value traded $1 million as of the rebalancing reference date.

The fund provides investors with a pure exposure to the theme of global luxury, which has proven resilient in previous crises as a result of high profit margins, brand loyalty, and a well-balanced exposure to both developed and emerging economies. The US (37.8%), France (16.3%), Germany (12.8%) and the UK (10.9%) contribute the largest country weights, while the sector exposures are naturally dominated by consumer discretionary companies, which make up 80%.

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