Amundi has expanded its thematic product range with the launch of an artificial intelligence ETF.
The Amundi STOXX Global Artificial Intelligence UCITS ETF will offer investors exposure to companies capturing AI's growth potential.
Tracking the STOXX AI Global Artificial Intelligence ADTV5 index, the ETF will have an ongoing charges figure (OCF) of 0.35%.
The index analyses stocks using two metrics. 'AI exposure' is the proportion of AI-related patents granted to the company over three years compared to the total number of patents granted to that company over the same period, while 'AI contribution' is the proportion of AI-related patents granted over three years relative to all AI patents given to all companies.
The index is equally weighted, offering exposure across a number of countries and sectors.
Fannie Wurtz, managing director of Amundi ETF, indexing and smart-beta, commented: "We are particularly excited to be able to offer investors this innovative ETF which provides a cost-efficient way to gain exposure to Artificial Intelligence, a key driver of future growth.
"Product innovation is one of the core principles of Amundi and this new listing demonstrates our commitment to providing our clients with new solutions for their long-term investment objectives."
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