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HSBC enters European ETF market

HSBC has announced plans to join the ETF market with the launch of a European fund.

The HSBC FTSE 100 ETF will track the performance of the blue chip index. The fund is domiciled in Ireland but is available for sale in the UK and across Europe.

The fund will have a total expense ratio of 0.35 per cent and will launch on August 25.

HSBC says it plans to build on its ETF business across Asia, Latin America and the Middle East.

HSBC Global Asset Management chief executive officer Mark McCombe says: “We are intent on complementing our existing set of investment capabilities by developing a range of ETFs that can meet the main investment requirements of the institutional, wealth management and retail segments.”

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