Lyxor, the asset management arm of French bank Societe Generale, has initiated what is likely to become a ferocious price war among Europe’s exchange traded fund providers by lowering fees on 16 products to “rock bottom” prices.

The ETF provider — Europe’s second largest with $82bn in assets — has unveiled a low-cost range of core ETFs amid growing pressure from regulators and clients to reduce fees and charges for end investors.