Amundi will liquidate a trio of ETFs as part of its ongoing “product range maintenance process” including the multi-strategy smart beta fund with which it entered Europe’s ETF market.
The Amundi Index Equity Global Multi Smart Allocation Scientific Beta UCITS ETF (SMRU) will cease trading on 16 January. The fund, which tracks the SciBeta Developed Multi-Beta Multi-Strategy ERC Net Return index, was Amundi’s first ETF in Europe.
It currently houses $42m assets under management (AUM), having peaked at over $700m in 2018.
Also closing is the Amundi US Treasury 10Y Daily (-2x) Inverse UCITS ETF, which will be removed from exchanges on 23 January. According to Trackinsight data, it has returned 64.3% in the last three years but suffered outflows of $134m over the period as investors have scaled back their short US Treasury bets.
The third product closing is the $36m LYXOR CORE US EQUITY (DR) UCITS ETF (LCUS) which tracks the Morningstar US Large-Mid Cap NR Index. It will delist on 2 February.
The French asset manager is closing the products because they failed to retain sufficient assets to remain “economically efficient”.
A spokesperson for the firm said: “These decisions are part of our ongoing product range maintenance process, ensuring that our offerings remain aligned with investor demand and market efficiency.”
Last November, Amundi merged an emerging market ETF into an ESG equivalent as part of the consolidation of its range.
