Amundi adds to its Fixed Income ETF range by launching the first ETF in Europe [1] to offer exposure to the Markit iBoxx EUR Liquid Corporates BBB Top 60 index. This innovative ETF, listed today on Euronext, will then be cross-listed on the major European stock exchanges.
This new ETF, offered with a TER [2] of 0.20%, represents an innovative asset allocation tool for investors seeking to capture yield on EUR credit market, as European issuers still benefit from strong fundamentals and favourable environment with ECB Quantitative Easing.
The Markit iBoxx EUR Liquid Corporates BBB Top 60 index aims to reflect the performance of EUR denominated BBB rated corporate debt, focusing on the most liquid country-diversified corporate bonds denominated in euro. Indeed, the index methodology enables to select maximum 60 liquid corporate bonds, denominated in Euro, with ratings BBB- at Standard & Poor’s, BBB- at Fitch and Baa3 at Moody’s [3].
Valerie Baudson, CEO at Amundi ETF, Indexing and Smart Beta, said: “With over €10bn of inflows witnessed on corporate bond ETFs in Europe YTD 2015, investors’ interest for yield in fixed income remains very strong [4]. We are delighted to provide investors with this unique yield enhancing tool in the Investment Grade universe, with lower risk than in the high yield universe.”
