Amundi has launched a new multi-strategy index fund to target European large and mid-cap stocks.
Dubbed Amundi Index Equity Global Multi Smart Allocation Scientific Beta Fund, the new proposition will be presently available in France, the UK and main European markets.
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It will track the multi-beta multi-strategy ERC index, which tracks performance of four weighted sub-indices accessed through the Edhec Risk Institute’s Scientific Beta platform.
The fund will offer exposure to nearly 2000 stocks issued by large and mid-cap companies in developed countries. It will include ongoing charges between 0.15% and 0.5% based on share class.
Amundi global head of ETF, indexing and smart beta Valerie Baudson commented: "Multi-factor smart beta strategies represent a very important area of growth. To meet increasing client demand, Amundi has therefore developed a wide range of smart beta solutions with the aim of remaining at the forefront of innovation."
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