Amundi Announces Plans To Mirror 6 Ireland Funds & Launch Two Climate ETFs

Amundi, the French asset manager, plans to duplicate six existing exchange-traded funds (ETFs) in Ireland and launch two Climate Transition Benchmark ETFs, following regulatory approval to launch the US equity ETFs that are housed in Luxembourg. The move is intended to offer clients a high level of flexibility, as US equity ETFs domiciled in Ireland are subject to a lower tax withholding rate than ETFs in Luxembourg and other jurisdictions. It also reinforces Ireland’s dominance in the European ETF market, with 67% of the total European ETF market with $953bn AUM across 1,789 ETFs being housed there, compared to $277bn for Luxembourg.