Amundi has switched the index of its US equity ETF as the French asset manager continues to rejig its ETF range to “align it with market demand”.
The $138m Amundi Prime USA UCITS ETF (WEBI) will switch from tracking the Solactive GBS United States Large & Mid Cap index to the MSCI USA index.
The changes will take place on 3 September.
Both indices track large and mid-cap segments covering the largest 85% of the free float market capitalisation in the US.
The MSCI index is slightly more diversified with 602 constituents versus Solactive's index with 469 stocks, as at 5 August.
Commenting on the switch, an Amundi spokesperson said: “We are constantly monitoring our range of products to align it with market demand.”
The French asset manager has switched the indices of multiple ETFs this year, most recently swapping the index on its US corporate bond ETF which took the product out of its Prime range.
In March, Amundi switched the index, increased the fee and added an ESG filter to its smart city ETF.
