Fineco Asset Management is charging into the European ETF market with the launch of 11 equity and fixed income strategies.
Currently the only Italian issuer of ETFs, the six equity products – including three thematic and three sector ETFs – and five fixed income products have listed on the Borsa Italiana.
It comes after the bank outlined plans in August to enter the ETF market with two thematic ETFs, the Fineco AM MSCI ACWI IMI Cyber Security UCITS ETF (FAMMAI) and the Fineco AM MSCI World Semiconductors and Semiconductor Equipment UCITS ETF (FAMMWS).
However, it was clear its ambitions were bigger.
The five fixed income products, which are all classified as Article 8 under the Sustainable Finance disclosure Regulation (SFDR), have total expense ratios (TERs) of 0.30%.
The remaining six equity products – three of which are labelled Article 8 – have TERs of 0.38%. All 11 of its ETFs will track MSCI indices.
The 11 products are:
Fineco AM MSCI World Information Technology ESG Leaders 20% Capped UCITS ETF
Fineco AM MSCI ACWI IMI Cyber Security UCITS ETF
Fineco AM MSCI World Semiconductors and Semiconductor Equipment UCITS ETF
Fineco AM MSCI World Consumer Staples ESG Leaders UCITS ETF
Fineco AM MSCI World Financials ESG Leaders UCITS ETF
Fineco AM MSCI World Metals and Mining UCITS ETF
Fineco AM MSCI USD HY SRI Sustainable Corporate Bond UCITS ETF
Fineco AM MSCI EUR HY SRI Sustainable Corporate Bond UCITS ETF
Fineco AM MSCI EUR IG SRI Sustainable ex Fossil Fuel (1-3y) Corporate Bond UCITS ETF
Fineco AM MSCI EUR IG SRI Sustainable ex Fossil Fuel Corporate Bond UCITS ETF
Fineco AM MSCI USD IG Liquid SRI Sustainable Corporate Bond UCITS ETF
The asset management arm of FinecoBank said the ETFs will be available to all investors but it will look to capitalise on its 1.45 million customers, in particular, as it attempts to grow its assets under management.
Fineco AM has €24.5bn in AUM, €14.6bn of which were retail money and €9.9bn institutional, as at the end of June.
Why ETF issuers are betting on Italy as Europe’s next growth market
Fabio Melisso (pictured), CEO of Fineco AM, said: “The launch of these 11 ETFs represents a further, important step in our value creation path: with this new family of products, we provide Fineco consultants with efficient and cost-effective tools in line with the market.
“After introducing passive construction funds in financial advisory in Italy a few months ago, we are now proud to continue our path of innovation in a complementary manner through the listing of these ETFs on the Borsa Italiana. The new tools will be accessible to all savers, not just Fineco customers.”
Fineco AM is now the only Italian ETF issuer in the market. In 2019, UniCredit launched three ETFs unveiled on the Deutsche Boerse that were later delisted.
Last month, FinecoBank agreed a deal with Amundi to offer Italian investors access to the French asset managers’ ETFs.
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