Amundi ETF has rolled out a multi smart beta ETF which will offer investors exposure to European equities.

Dubbed as the Amundi ETF Europe Equity Multi Smart Allocation Scientific Beta Ucits ETF, the new fund will track the Scientific Beta Extended Developed Europe Multi-Beta Multi-Strategy ERC strategy index.

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The ERC index, which is made by Edhec-Risk Institute Scientific Beta, offers exposure to large and mid capitalisation stocks on developed European equity markets.

It contains four universes based on risk factors including value, size, momentum and volatility, which use five weighting schemes.

The ETF, which will be listed on Euronext as well as on the main European stock exchanges in the coming months, will have ongoing charges of 0.4%.

Amundi ETF indexing and smart beta CEO Valerie Baudson said: "This innovative Multi Smart Beta ETF strengthens our smart beta equity range following the success of Amundi’s Global Equity Multi Smart Allocation Scientific Beta UCITS ETF, launched in 2014.

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"These two multi smart beta exposures reinforce our broad selection of mono-strategy ETFs, which already include minimum volatility, mid-cap, small-cap, growth, value, high dividend and buybacks. As we have observed the market’s increasing demand for smart beta solutions, this will be a key area of development for Amundi this year."