Multi Units Luxembourg - Amundi STOXX Europe 600 Insurance UCITS ETF Inc, listed on XETRA under the ticker symbol EGV1, is an exchange-traded fund (ETF) that provides investors with exposure to the European insurance sector.
The fund is domiciled in Luxembourg, a well-established hub for investment funds in Europe, known for its favorable regulatory environment and high standards of investor protection.
As part of the Amundi group, a leading European asset manager, the fund benefits from the expertise and resources of a large and experienced investment management team.
The fund's underlying index is the Morningstar Global Financial Services Total Market Net Return USD, which tracks the performance of the global financial services sector, including insurance companies.
However, it's worth noting that the fund's name suggests a focus on the STOXX Europe 600 Insurance index, which is a subset of the broader STOXX Europe 600 index, tracking the performance of the 600 largest and most liquid stocks in Europe, with a specific focus on the insurance sector.
This discrepancy may indicate that the fund's investment strategy is not strictly tied to the Morningstar index, but rather uses it as a benchmark to measure its performance, while actually tracking the STOXX Europe 600 Insurance index.
As an ETF, the fund offers investors the benefits of diversification, liquidity, and transparency, allowing them to gain exposure to the European insurance sector in a single trade.
For more information on the fund, including its investment strategy, holdings, and performance, investors can visit the Amundi website at https://first-eagle.amundi.com/.