Fund manager Amundi is to launch an exchange-traded fund (ETF) which will give investors exposure to a range of smart beta strategies, called the Scientific Beta Developed Multi-beta Multi-Strategy ERC index.
Amundi already has a range of single smart beta strategies, such as minimum volatility, mid cap, small cap, growth, value and high dividend, which can be used for asset allocation. The new ETF aims to outperform market cap-weighted indices by blending four risk factors – value, size, volatility and momentum – with five popular smart beta diversification strategies. It will have a total expense ratio of 40 basis points and is available in sterling, euro and dollar share classes. Amundi global head of ETF and indexing, Valerie Baudson, commented: “This first Multi Smart Beta ETF launch on Euronext again demonstrates our commitment to innovation at the core of our product development strategy. This also marks a major step in our ‘Smart Beta’ ETF and indexing solutions offering.”