BNP Paribas Easy Low Carbon 100 Europe PAB
LCEU.DE
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- BNP Paribas Easy Low Carbon 100 Europe PAB UCITS ETF (LCEU.DE) is an exchange-traded fund that seeks to replicate the performance of the Euronext Low Carbon 100 Europe PAB Index (NTR) through full physical replication; the index selects approximately 100 large-cap European companies based on low carbon emissions, high ESG ratings, and alignment with Paris Aligned Benchmark targets, including a minimum 50% reduction in carbon intensity relative to the broader universe and an annual 7% decarbonization trajectory, while excluding fossil fuel activities. The fund employs a best-in-class ESG approach across diversified sectors such as financial services, industrials, healthcare, consumer staples, and information technology; it offers accumulating share classes with a total expense ratio of 0.30% p.a., UCITS compliance under Article 8 of SFDR, and an MSCI ESG Fund Rating of AA. Managed by BNP Paribas Asset Management Luxembourg as a sub-fund of the BNP Paribas Easy SICAV, it was launched on June 2, 2017, and is domiciled in Luxembourg with primary listings on Xetra (LCEU.DE), Euronext Paris (ECN FP), and other European exchanges. The ETF targets institutional and retail investors seeking sustainable equity exposure to Europe, with geographic focus on the Eurozone (approximately 50%), United Kingdom (27%), Switzerland, France, Netherlands, and other European countries; top holdings as of September 30, 2024, include ASML Holding NV, Novartis AG, AstraZeneca PLC, Diageo PLC, and Schneider Electric SE. Fund assets under management stood at EUR 1,488 million as of that date, reflecting steady growth from prior levels around EUR 441-501 million. It was formerly known as BNP Paribas Easy Low Carbon 100 Europe UCITS ETF prior to its alignment with PAB criteria. No major acquisitions, funding rounds, partnerships, or strategic shifts have been reported for the fund in the last 1-2 years; operations remain focused on index tracking with quarterly rebalancing.