Amundi has appointed Solactive as the index provider for the launch of the company’s new ETF range, labelled ‘Amundi Prime ETF’. The new series contains nine Equity and Fixed Income ETFs, all utilising Solactive indices as their underlying.
“This has been a very huge project for us, and we feel honoured to act as Amundi’s index provider of choice for this groundbreaking new range,” says Steffen Scheuble, CEO of Solactive. “The development of the ETF series displays Amundi’s and Solactive’s kindred entrepreneurial spirit, always pushing boundaries to provide agile and disruptive products and services while adapting quickly to ever-evolving market conditions.”
The Equity range of Amundi’s Prime series includes four ETFs based on Solactive’s flagship pure-beta offering, the Solactive Global Benchmark Series (GBS). The GBS indices cover large and mid-cap stocks of various regional markets in particular Developed Markets, Europe, USA, and Japan. Each index comprises the top 85 per cent of the corresponding equity market in terms of free float market capitalisation, and is rebalanced on a semi- annual basis in May and November with additional IPO reviews in February and August. A fifth equity ETF tracks the Solactive Euro 50 index, which includes the 50 largest Eurozone companies weighted by free-float market capitalisation.
In terms of fixed income exposure, Amundi Prime’s Global Developed, Euro Govies, and US Treasury Bond ETFs track three sub-indices derived from the Solactive Global Government Bond Index Series, the Fixed Income sibling of Solactive Global Benchmark Series. Both the Solactive GBS and Global Government Bond Index Series share the same proprietary Country Classification Framework, involving a rules-based and transparent process covering both Emerging and Developed markets, including 100 countries. A fourth Fixed Income Amundi Prime ETF tracks the performance of the Solactive Euro IG Corporate Index, allowing investors to gain exposure to investment grade Euro-denominated corporate bonds.