HSBC launches first Eurozone equity ETF
HSBC is to launch its first Eurozone equity ETF on October 6.
The fund, which is listed on the London Stock Exchange, is designed to replicate the performance of the Dow Jones Euro Stoxx 50 index, which covers the 50 largest companies in the Eurozone.
The fund, which is domiciled in Ireland, has a total expense ratio of up to 0.15 per cent.
The launch is HSBC’s second since joining the ETF space in August, when the group launched a FTSE 100 ETF.
HSBC global markets co-head of global equities Christophe Chazot says: “HSBC is intent on being among the leading ETF providers within three years by joining up our asset management, sales, trading and securities services capabilities. In addition to building our ETF business in Europe, we plan to expand internationally, starting with Asia. We see ETFs having an important role within the broad continuum of market access products that HSBC can bring to investors.”