In a published on 31 May, Amundi said shares held in the Amundi MSCI World ESG Leaders Select would be replaced by shares in Amundi MSCI World ESG Leaders UCITS ETF sub-fund on 7 July.
Amundi MSCI World ESG Leaders UCITS ETF is a sub-fund of the Amundi ETF Irish collective asset management vehicle (ICAV).
A spokesperson from Amundi commented on the move, saying: “We are offering today a full set of Luxembourg, French, German and Irish domiciles to address the variety of our client needs in terms of fund domiciles. Luxembourg remains a fund domicile of choice for Amundi ETF. As a recent example, we just launched our Amundi MSCI Europe Climate Action ETF that has been seeded by Ilmarinen. We will continue to assess fund domiciles just as any other features on a case by case basis.”
The Amundi MSCI World ESG Leaders Select currently has €643m in assets under management. The shift could mark the beginning of a major asset transfer from Luxembourg to Ireland. In March, Amundi duplicated five other grand duchy-domiciled ETFs, which together amount to over €17bn in assets, according to reports at the time.
Amundi’s decision to domicile ETFs in Ireland will allow the company to . Under the treaty, US equity ETFs domiciled in Ireland are subject to a 15% withholding tax rate on dividends, compared to 30% for ETFs in Luxembourg and other jurisdictions.