Amundi to close its authentic ‘multi’ good beta ETF | USAEMALL.com

Amundi is to close a multi-strategy smart beta exchange traded fund, the product it launched to enter the space a decade ago.

The Amundi Index Equity Global Multi Smart Allocation Scientific Beta Ucits ETF will be liquidated on February 4, according to a shareholder notice published late last week.

The board of the Luxembourg-based Amundi Index Solutions Sicav, the ETF’s umbrella structure, wrote that net assets in the vehicle were below the “minimum level [. . .] to be operated in an economically efficient manner”.

The fund has just over €40mn of assets under management, according to Amundi.

This article was previously published by Ignites Europe, a title owned by the FT Group.

The Sicav board added that it was “in the best interest of the shareholders of the sub-fund to close the sub-fund and initiate the liquidation procedure”.

Launched in 2014, the vehicle was Amundi’s first smart beta ETF and tracked an index provided by research firm Scientific Beta.

The company rolled out an index fund version of the vehicle one year later.

According to the announcement, the euro and US dollar ETF share classes, as well as the index fund share classes of the fund, will close.

The ETF’s assets peaked at €627mn in August 2018, before dipping below €100mn in July 2020, according to Morningstar data. Its asset pool has been below €50mn since April 2022.

Since inception the strategy has yielded close to 83 per cent. It returned 19 per cent in the 2024 calendar year.

Amundi closed its Europe Equity Multi Smart Allocation Scientific Beta Ucits ETF in April 2023.

*Ignites Europe is a news service published by FT Specialist for professionals working in the asset management industry. Trials and subscriptions are available at igniteseurope.com.