HSBC MSCI Brazil ETF 'a first step'
www.moneynews.co.uk > Banking > HSBC MSCI Brazil ETF 'a first step'
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HSBC MSCI Brazil ETF 'a first step'
Wed 14th Jul 2010
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The HSBC MSCI Brazil ETF is the first of a series of funds for developing economies that have been planned by the institution.
With a total expense ratio of 0.6 per cent, the institution has described the fund as being "highly competitive".
It has been designed to replicate the performance of the MSCI Brazil Index - which tracks the country's biggest companies - and will be floated on the London Stock Exchange with the ticker HMBR.
Farley Thomas, head of ETFs at HSBC, said: "Brazil is a key market for future global economic growth and its emergence as a global economic power represents a huge opportunity for investors."
Another fund from HSBC has recently celebrated some success, as the Global Macro Fund reached $660 million (£432 million) in time for its third anniversary.
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Related News : HSBC |
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