Amundi launches two ETFs in Italy
Amundi has launched Floating Rate Euro Corporate 1-3 Ucits ETF and JPX-Nikkei 400 Ucits ETF-Eur ETF on Borsa Italiana.
The first ETF replicates the Markit iBoxx EUR FRN IG 1-32 (total return) providing exposure to floating rate bonds, with net dividends reinvested as calculated by Markit Indices Limited.
The securities selected from the index are investment grade floating rate corporate bonds denominated in euro and with duration of one to three years. The ETF has a TER3 of 0.18%.
The Jpx-Nikkei 400 Ucits ETF-Eur ETF replicates the JPX-Nikkei 400 Total Net Return Index. It also has a TER3 of 0.18%. The index includes both large and mid cap listed Japanese firms, which are selected according criteria of best practice both in terms of governance and of value creation for investors.
All stocks included in the index are assessed through both quantitative and qualitative critetia such as average ROCE over the last three years; profits over three years; market capitalisation and corporate governance, Amundi added.
The JPX-Nikkei 400 Total Net Return Index has recently been adopted by the Bank of Japan and the Japanese Government Pension Investment Fund (GPIF).