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Amundi, a Paris-based provider of exchange-traded funds, has unveiled the Amundi ETF S&P Global Luxury UCITS ETF (GLUX) offering investors targeted exposure to the global luxury theme.
The fund, which has been listed on both the NYSE Euronext Paris and London Stock Exchange, is linked to the S&P Global Luxury Index.
The S&P Global Luxury Index is composed of 80 of the largest publicly traded companies engaged in the production or distribution of luxury goods or the provision of luxury services that meet specific investibility requirements.
Companies are selected for inclusion by S&P’s equity research team according to primarily qualitative factors such as companies’ revenues by business area and market perception of their industry segment.
The index comprises securities from 12 different countries and across several sectors. To ensure investability, constituents must be listed on a developed market and have a minimum three-month average daily value traded $1 million as of the rebalancing reference date.
Major constituents currently include Daimler, Diageo, Nike, Richemont, LVMH, BMW, Las Vegas Sands, Adidas, Pernod-Ricard and VF.
The fund provides investors with a pure and unique exposure to the theme of global luxury, which has proven resilient in recent crises as a result of high profit margins and a well-balanced exposure to both developed and emerging economies.
Valérie Baudson, Global Head of ETF and Indexing at Amundi, commented: “We are delighted to offer investors this unique exposure to the theme of luxury business around the world, which has shown strong and resilient growth. This sector has outperformed developed and emerging market equity indices over the last three years thanks to its sustained growth since 2009.”
The ETF has a total expense ratio of 0.25% and is available in both EUR and USD share classes.
Amundi ranks among the top five European providers of ETFs, with more than €11 billion in assets under management.