Amundi switches to FTSE for European real estate ETF

Mar 12th, 2014 | By | Category: Alternatives / Multi-Asset

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Amundi, a Paris-based provider of exchange-traded funds, has changed the underlying index of its €40 million European real estate ETF.

Amundi switches to FTSE for European real estate ETF

The FTSE EPRA/NAREIT Developed Europe Index tracks the performance of REITs and real estate holding & development companies listed in developed market European countries.

At its inception in August 2009, the Amundi Real Estate REIT IEIF ETF, as it was then known, tracked the Euronext IEIF REIT Europe Index. As of mid February, the fund has tracked the FTSE EPRA/NAREIT Developed Europe Index and been known as the Amundi ETF FTSE EPRA Europe Real Estate UCITS ETF.

The newly adopted index is part of the widely followed FTSE EPRA /NAREIT family of real estate indices designed to track the performance of listed property companies and real estate investment trusts (REITs).

Notable constituents of the FTSE EPRA/NAREIT Developed Europe Index include Unibail-Rodamco, Land Securities, British Land, Hammerson and Swiss Prime Site.

There are currently over 25 ETFs linked to the wider FTSE EPRA/NAREIT index series. Launched in 2005, the series has expanded from the original developed index to include a range of indices covering developed and emerging markets, high yield and sector indices.

Sudir Raju, Managing Director at FTSE Group, commented: “FTSE EPRA /NAREIT Index continues to be a leading benchmark for market participants wishing to harness the growing real estate sector. We are delighted that Amundi has adopted one of our key indices, as this move provides further evidence that FTSE Group continues to deliver on our aims of transparency, governance and customer satisfaction across all our products.”

Valérie Baudson, Global Head of ETF and Indexing at Amundi, added: “By choosing to track the FTSE EPRA Europe Real Estate index, we are offering our clients a well geographically-diversified exposure that combines a wide scope of stocks with restrictive qualitative criteria. Additionally, we are delighted to enhance our European Equity range with this new product, offering once again a competitive pricing.”

The fund is listed on the London Stock Exchange, NYSE Euronext Paris, Borsa Italiana and Deutsche Börse. It has a total expense ratio (TER) of 0.35%.

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