Lyxor MSCI EM Latin America UCITS ETF
LTM.PA
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- Lyxor MSCI EM Latin America UCITS ETF (LTM.PA) is an exchange-traded fund that seeks to replicate the performance of the MSCI Emerging Markets Latin America Index, providing investors with exposure to large- and mid-cap companies across emerging markets in Latin America, including Brazil, Mexico, Chile, Colombia, Peru and other regional constituents; it employs a physical replication strategy on a sampling basis and accumulates dividends for reinvestment, with a total expense ratio of 0.65% and assets under management of approximately EUR 28 million. The ETF, domiciled in Luxembourg and listed on Euronext Paris under ticker LTM (ISIN LU1900066629), targets institutional and retail investors seeking diversified emerging market equity exposure in the Latin America region without currency hedging. Managed by Amundi ETF, formerly under Lyxor Asset Management, the fund traces its inception to May 15, 2007, as part of Lyxor's pioneering ETF offerings originally established in 1998. In a significant recent development, Amundi, which acquired Lyxor from Societe Generale in December 2021 for EUR 825 million, announced the merger of this ETF into its equivalent product, Amundi MSCI EM Latin America UCITS ETF (ALAT), effective September 22, as part of ongoing post-acquisition consolidation efforts that have included merging over 19 Lyxor ETFs since May to streamline the combined passive platform exceeding EUR 170 billion in assets. This strategic reorganization reduces the expense ratio for LTM shareholders from 0.65% to 0.20% upon absorption into the larger Amundi-domiciled fund in Ireland, enhancing cost efficiency and liquidity while aligning with Amundi's ambitions for 50% AUM growth in passives by 2025, bolstered by anticipated annual cost synergies of EUR 60 million (full impact 2024) and revenue synergies of EUR 30 million (full impact 2025) from the Lyxor integration. The transaction reflects Amundi's broader expansion in ETFs, particularly in fixed income, ESG and emerging markets, with strengthened presence in Europe, Asia and Latin America.