A year after the first registrations in the Netherlands, the Amundi ETF product roll-out plan remains on track through a new dedicated ETF Institutional Sales presence and the registration of 6 new products in the Netherlands.…
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Rapid growth: 3° largest number of ETFs launched in Europe during 2010
With 101 ETFs1 and more than 300 cross-listings and registrations across Europe, the Amundi ETF product range covers the main asset classes: equities, bonds, money market and commodities, and is ranked 3rd European ETF issuer in terms of product launches2. The enhancement of its range and presence in Europe has been accompanied by a strong increase in investor confidence with growth in assets under management outpacing the European market during 20102. This development has continued with Amundi ETF posting the 3rd largest net new assets at end May this year3, bringing total assets under management to € 6.9bn3
• Dedicated sales for institutional investors in the Netherlands .
As part of the Amundi ETF European implementation plan, Herman Barten has joined CA Cheuvreux from AXA Investment Managers Benelux, where he was responsible for the sales of investment products to distributors and institutional clients. Now responsible for the Amundi ETF sales at CA Cheuvreux in the Netherlands, Herman will develop relationships with Dutch institutional investors and play a key role in the overall institutional sales and marketing process in this region.
• Further product growth in 2011
Enhancement of the product range continues in the Netherlands with the addition of 6 ETFs registered bringing the total number of products available to 54. In line with the Amundi ETF competitive pricing policy, these new products are offered with TERs among the lowest in the market4
Valérie Baudson, Managing Director of Amundi ETF states: “We have received a high level of investor interest in the Benelux over the past year. We are now concentrating our efforts in this region to provide the quality service required by institutional investors with the introduction of a local dedicated sales desk.”.
Transaction costs and commissions may occur when trading ETFs. Returns may increase or decrease as a result of currency fluctuations.
As at 18/07/2011. All the Amundi ETF funds (“Funds”) comply with the UCITS III European Directive on collective investment schemes (funds). 5 6
Thierry Ancona, Head of Client Global Coverage, Executive Vice President, CA Cheuvreux, comments: “Amundi ETF continues to be an important part of our sales and distribution strategy. We are delighted to welcome Herman on board and will provide all the support that he needs to help Amundi ETF achieve its ambitious objectives.”
The Amundi ETF product range is available on the main European stock exchanges and is distributed by dedicated sales teams at Amundi and CA Cheuvreux.
All products in the Amundi ETF range fully comply with UCITs III rules. The product range contains three ETFs which use the physical replication method. For those ETFs using the swap-based (synthetic) method, the marked-to-market value of the swap is limited to around 4.5% of each fund’s assets, which is below the 10% limit per counterparty stipulated by UCITs III rules. The assets held by the funds are invested in European blue chip equities for equity funds and mainly investment grade bonds for fixed income funds.
2 Source: ETF Landscape Industry Highlights, BlackRock, Year end 2010.
3 Source: ETF Landscape Industry Highlights, BlackRock, end May 2011.
4 Source: Amundi Investment Solutions as of 30/06/2011; based on a comparison of the asset-weighted average Total Expense Ratio (“TER”) of all AMUNDI ETF Funds (the “Funds”) versus the asset-weighted average TER of all other equivalent European ETFs using the same or a similar benchmark (if any). A TER is a measure that compares the annual total management and operating costs charged to a fund against the value of that fund’s assets. Analysis excludes commissions and other third party costs incurred directly by investors trading in ETFs. Investors should note that (i) one or more individual Funds (e.g. AMUNDI ETF EUROMTS CASH 3 MONTHS) may not be cheaper than the asset-weighted average TER of the other European ETFs using the same or a similar benchmark; and (ii) Investors should note that some Funds may not have a peer group to compare against.
Source: ETFWorld – Amundi