Amundi is set to close the MSCI Eastern Europe Ex Russia ETF in both the euro and US dollar denominations.
In a stock exchange notice today (11 April), the $2trn asset manager said fund will be liquidated on 12 May 2023. The suspension of the secondary market will happen on 5 May after the trading session. The ETF, which was launched in 2009, has assets of €20.7m.
The Amundi MSCI Eastern Europe Ex Russia fund sought to replicate as closely as possible the performance of the MSCI Eastern Europe ex Russia index.
The ETF enabled investors to gain from an exposure to stocks in the Central European countries with exception of Russia, having recently been integrated into the European Union, including Hungary, Czech Republic and Poland.
Amundi merges $3.7bn global ETF with new fund
The strategy has a 40% allocation to the financial sector, while 65% of its assets are invested in Poland, followed by Hungary (18.1%) and Czech Republic (16.9%).
According to its factsheet, the fund is down 10.72% over one year, while the MSCI Eastern Europe ex Russia index which is down 10.62%.
