HSBC launches FTSE 250 ETF
HSBC has launched its own FTSE 250 exchange traded fund.
The new fund offers investors exposure to the total return performance of medium-sized companies listed in Britain and representing approximately 10 per cent of British stock market capitalisation.
The group says the fund will replicate the FTSE 250 index by mirroring its performance as far as possible through ownership of the index’s underlying shares.
It will initially be listed on the London Stock Exchange but the group plans to make it available in other European countries in the coming months.
The total expense ratio of the fund is 0.35 per cent.
HSBC head of ETFs Farley Thomas says the mid-cap segment of Britain’s market includes some of the fastest growing listed firms, some of which will be future FTSE 100 constituents.