Amundi ETF grows assets 60% in 2010

Amundi saw assets under management (AUM) in its ETF business swell to €5.3bn by the end of December, a yearly increase of nearly 60%.

The firm unveiled 29 products last year, the third busiest launch calendar of any European provider, including an ETF tracking the Markit iBoxx USD Liquid Emerigng Markets Sovereigns index.

Amundi says it is focusing on innovation and low prices, and claims its range is priced 25% lower on average than equivalent competing products in Europe. Its latest launch on the MSCI Emerging Markets index carries a total expense ratio of 0.45%, compared to an average of 0.69% across similar products.

The year-end figures mean that over the past two years Amundi ETF has climbed from fourteenth to seventh biggest European ETF provider.

Managing director Valérie Baudson says the company's performance in 2010 came in line with its ambitions. She adds: "With an objective to be in the top five players, Amundi ETF has started 2011 on a positive note with net inflows of nearly €400m in January."