Multi Units Luxembourg - Lyxor Core Global Inflation-Linked 1-10Y Bond (DR) UCITS ETF - Monthly Hedged to CHF - Dist (ticker: GISE.SW) is a Luxembourg-domiciled, UCITS-compliant exchange-traded fund that seeks to track the performance of the Bloomberg Global Inflation-Linked 1-10 (CHF Hedged) index. The fund employs a physical sampling replication technique to invest primarily in investment-grade government inflation-linked bonds from large developed market countries with maturities between 1 and 10 years; it distributes interest income semi-annually and maintains a total expense ratio of 0.20% per annum. Launched on May 13, 2019, the ETF is part of the Multi Units Luxembourg SICAV umbrella structure managed by Amundi Asset Management, with administration by Société Générale Luxembourg, and primarily lists on the SIX Swiss Exchange for Swiss franc-hedged exposure targeting inflation protection in global fixed-income markets.
The fund forms part of Amundi's broader ETF platform, which emphasizes passive strategies across equities, fixed income, commodities, and multi-asset solutions; it serves institutional and retail investors seeking diversified, currency-hedged inflation-linked bond exposure from developed economies. Amundi Asset Management, headquartered in Paris, France, and founded in 2010 through the merger of Crédit Agricole Asset Management and Société Générale Asset Management, oversees the product following its 2022 acquisition of Lyxor Asset Management from Société Générale for €825 million, a transaction that elevated Amundi to Europe's second-largest ETF provider with over €170 billion in combined ETF assets under management.
Recent developments include Amundi's ongoing post-acquisition integration of Lyxor ETFs, featuring multiple mergers and rebrandings to streamline the product range and enhance economies of scale; for instance, in 2025, Amundi merged several thematic and commodity ETFs while rebranding nearly 40 Lyxor sub-funds under its own name within the Multi Units France SICAV, alongside specific actions like merging the Lyxor Smart Overnight Return UCITS ETF into an Amundi equivalent. While no specific merger or closure has been announced for GISE.SW as of late 2025, the ETF continues to operate amid Amundi's strategic consolidations, which have included cost synergies exceeding €60 million annually from the Lyxor deal and a push toward 40% ESG-aligned ETFs by 2025. These changes reflect Amundi's focus on optimizing its passive offerings for retail, institutional, and Asian markets across Europe, the Americas, and Asia-Pacific regions.