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HSBC launches Eurozone equity ETF


HSBC is to launch the HSBC DJ Euro Stoxx 50 ETF on 6 October 2009.

Listed on the London Stock Exchange and domiciled in Ireland, the new ETF is designed to replicate the performance of the Dow Jones Euro Stoxx 50 Index (total return) covering the 50 largest companies in the Eurozone.

The total expense ratio of the fund is up to 0.15 per cent. 

In August, HSBC announced its entry into the European ETF market with the launch of the HSBC FTSE 100 ETF. It plans to progressively build a comprehensive range of ETFs over the next two years, covering the main asset classes and both developed and emerging market indices.

Christophe Chazot, co-head of global equities at HSBC Global Markets, 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.”

"Since its launch in 1998, the Dow Jones Euro Stoxx Index has become a well-accepted, rules based and transparent tool for market participants to measure and access the performance of the Eurozone’s leading companies," says Ricardo Manrique, chief executive officer, Stoxx. "By licensing the Dow Jones Euro Stoxx 50 Index, HSBC solidifies their new lineup of ETFs by adding the leading pan-euro index to their product platform."

Launched on 28 February 1998, the Dow Jones Euro Stoxx 50 Index represents 50 supersector leaders in the 12 euro zone countries Austria, Belgium, Finland, France, Germany, Greece, Ireland, Italy, Luxemburg, the Netherlands, Portugal and Spain. As of 2 October 2009, the index was up 16.42 per cent for the year.

The index is weighted by float-adjusted market capitalization, and each component’s weight is capped at ten per cent of the index’s total free-float market capitalization. The index captures approximately 60 per cent of the free-float market capitalization of the Dow Jones Euro Stoxx TMI Index. Daily historical data are available back to 31 December 1986.

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