Amundi launches Italy PIR-compliant ETF
French asset management firm Amundi has listed the Amundi ETF FTSE Italia PIR on Euronext Paris.
The ETF almost fully replicates the FTSE Italia PIR index that includes Italian large, mid- and small caps that remain eligible to the PIR funds’ regulation in Italy (tax-exempt and long-term individual savings plans). Real estate securities are not part of the index.
At least 70% of the ETF will be invested in stocks issued by companies headquartered in Italy or companies of the European economic area being established in Italy (e.g. subsidiaries).
Amundi’s ETF aims to keep a maximum spread of 1% between its net value and that of its benchmark.
Total expense ratio of the ETF is 0.35%.