Amundi is to switch the index on its US corporate bond ETF taking the product out of its Prime range.
The $87m Amundi Prime US Corporates UCITS ETF (PR1P) will go from tracking the Solactive USD Investment Grade Corporate index to the Bloomberg US Corporate Liquid Issuer index.
As a result of the changes, PR1P will see its name changed to the Amundi US Corporate Bond UCITS ETF, under the same ticker.
The changes will take effect on 11 July.
The new index includes USD-denominated securities publicly issued by US and non-US industrial, utility, and financial issuers.
To qualify for the new index, bonds must have at least three years remaining to maturity – up from at least 18 months in the Solactive index - and a minimum of $750m par amount outstanding.
Amundi has continued to tweak its ETF range in 2024 following its acquisition of Lyxor, most recently merging six ETFs into six newly created Amundi ETFs.
The French asset manager also switched the index, increased the fee and added an ESG filter to its smart city ETF in March.
