Exchange-traded fund (ETF) provider Amundi ETF has launched a new product giving investors exposure to the EuroMTS Highest Rated Government 1-3 Index.
Reviewed monthly, the NYSE Euronext index based in Paris is composed of 1-to-3-year government bonds issued by Eurozone member states with good credit ratings – at least two equivalent “AAA” ratings from S&P, Moody’s, or Fitch.
Amundi ETF said the product was the first European ETF to let investors take positions on the short fixed income maturity segment in investment-grade rated Eurozone countries. It is offered with a total expense ratio of 0.14%.
The ETF is available on the main European stock exchanges, with sales teams at Amundi and CA Cheuvreux.
Amundi was created on 1 January 2010 as an asset management firm jointly owned by French banks Crédit Agricole and Société Générale.