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HSBC launches S&P 500 exchange-traded fund


HSBC is to launch the HSBC S&P 500 ETF on 17 May with a total expense ratio of 0.15 per cent.

The HSBC S&P 500 ETF will be listed initially on the London Stock Exchange.

Further registrations and cross-listings in Europe are planned over the coming months.

The latest ETF from HSBC offers investors exposure to the total return performance of the S&P 500 Index, which is widely used to track the stock market performance of large US companies. The index represents some 75 per cent of the value of the US equities market and comprises 500 of the largest companies in the major industries of the US economy.

The ETF will aim to invest in the underlying shares of the index in the same proportions in which they are included in the index in order to replicate the total return performance of the index as closely as possible.

Farley Thomas, head of ETFs at HSBC, says: "Until now, investors have been limited to just one ETF provider for access to the performance of the S&P 500 Index. The launch of the HSBC S&P 500 ETF brings choice for investors with a highly competitive Total Expense Ratio of just 0.15 per cent. As with our other ETFs, our latest offering can be included in an ISA and can be traded like any other stock on the UK stockmarket but without having to pay stamp duty.”

HSBC announced its entry into the European ETF market in August 2009 with the launch of the HSBC FTSE 100 ETF, providing exposure to the largest UK-listed companies.

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