HSBC launches ETF tracking Euro stocks

Monday, 05 October 2009 12:00

HSBC has launched an investment product which aims to copy the performance of the Dow Jones EURO STOXX 50 index.

The new exchange traded fund (ETF) has been launched as part of HSBC's bid to build a comprehensive range of products in this market and comes following the launch in August of the FTSE 100 ETF.

This latest addition is listed on the London Stock Exchange and domiciled in Ireland.

The ETF, which is similar to an investment fund, aims to replicate the performance of the DJ EURO STOXX, which covers the 50 largest companies in the Eurozone.

HSBC said the total expense ratio (TER) of the fund is 0.15 per cent.

Farley Thomas, of HSBC Global Asset Management, said: "The ETF market is growing very fast due to investors' demand for simple, transparent and flexible products that are very attractively priced.

"To meet this demand we are prioritising the launch of the HSBC EFTs tracking mainstream indices such as the Dow Jones EURO STOXX 50 index, which is by far the most popular index in the European ETF industry."

Compare investment options

• Tags:
• product news