Amundi merges $3.7bn global ETF with new fund

Amundi is merging its $3.7bn Lyxor MSCI World (LUX) UCITS ETF into the newly created sub-fund Amundi MSCI World III UCITS ETF.

The merger is set to take place on 21 April this year and according to a letter to shareholders seen by Investment Week, Amundi described this as a "purely administrative absorption", stating it does not require any actions from the client, as shares in the Lyxor ETF will simply be replaced by shares in the MSCI World product.

Amundi replaces Yves Perrier as chair

Fees will remain at 0.2%, and it will continue to track the MSCI World Net Total Return index. 

Amundi acquired Lyxor in January last year for €825m and has since been reviewing the €170bn range.

At the end of last year, it completed the merger of its emerging market ETF with Lyxor's equivalent strategy, as the firm looked for "economies of scale" in the business.