Amundi, Europe’s largest asset manager, and the leading European ETF provider[1], confirms its commitment to facilitate investors’ shift towards responsible investing by transitioning an additional ETF on a flagship equity index into an ESG equivalent.
Indeed, the Amundi FTSE MIB UCITS ETF recently became the Amundi Italy MIB ESG – UCITS ETF DR[2] and it is now the first ETF tracking the newly created MIB ESG index, developed by Euronext.
The index tracked by the ETF offers exposure to the 40 main Italian stocks which demonstrate strong Environmental, Social and Governance practices among the 60 most liquid Italian companies listed on the Italian Stock Exchange.
It applies norm-based exclusion filters in accordance with the United Nation (UN) Global Compact principles and a negative screening allows to exclude companies involved in controversial business practices[3]. The ETF also aims to deliver an improved weighted carbon intensity compared to its investible universe.
The ETF is classified under article 8 of the EU’s SFDR regulation[4] and is offered with competitive ongoing charges of 0.18%[5].
This initiative is part of the Societal Project of the Crédit Agricole Group and its commitment to the climate.
- Source: Amundi, as at 31/03/2022.
- The underlying index and name change was effective on 20/06/2022.
- The index composition is based on the ESG criteria analysis by Vigeo Eiris, a Moody’s ESG Solutions company. Sector exclusions include tobacco, thermal coal mining, tar sands and oil shales, civilian firearms and controversial weapons. Further details on the investment policy are available on the index provider website.
- SFDR: “Sustainable Finance Disclosure Regulation” – 2019/2088/EU. European Union regulation that requires, amongst other things, the classification of financial products according to their ESG intensity. A fund is referred to as “Article 8” if it promotes ESG characteristics in tandem with other financial objectives, or “Article 9” when it has a sustainable investment objective. Any fund that does not comply with the two previous categories is an “Article 6” fund.
- Ongoing charges - annual, all taxes included. The ongoing charges represent the charges taken from the fund over a year. Until the fund has closed its accounts for the first time, the ongoing charges are estimated. Transaction cost and commissions may occur when trading ETFs.
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