Amundi to Merge Lyxor Global Sector ETFs with ESG Equivalents

Amundi, the French asset manager, is merging its Lyxor global sector ETFs with its ESG equivalent funds while reducing fees on the range. The merger will transfer €484 million in assets under management from the Luxembourg-domiciled Lyxor ETF range to the Ireland-domiciled Amundi ETFs on June 28. The decision to merge the ETFs was made after evaluating the competitiveness of the product range and consumer interest. Amundi has been shifting part of its ETF range to Ireland to take advantage of the country’s favorable tax treaty with the US. The fee reduction will see Lyxor ETF investors’ fees cut from 0.30% to 0.18%. The Amundi ETF range is labeled Article 8 under the Sustainable Finance Disclosure Regulation (SFDR).