25/08/2009 HSBC listed its HSBC FTSE 100 ETF on the London Stock Exchange
HSBC listed its HSBC FTSE 100 ETF on the London Stock Exchange today. The launch is the first step in the Group’s ambitious plans to become a market leader in the $200bn European Exchange Traded Funds market. In coming months, HSBC plans to launch further ETFs on the LSE as it builds a comprehensive range for all types of investor.
ETFs have gained ground over the past few years in step with investors' demand for simpler, more flexible, risk controlled and good value investment products, so HSBC considers now an ideal time to enter this growing market. HSBC expects ETFs will increasingly become an important part of the investment toolkit for all types of investor. ETFs represent around 2% of the European mutual fund market compared with 6% in the US, so there is plenty of room for growth.
Mark McCombe, Chief Executive Officer of HSBC Global Asset Management, said: “HSBC is intent on complementing its 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."
Samir Assaf, Head of Global Markets at HSBC, adds: "ETFs are one of the fastest-growing areas in the investment management industry and we aim to be among the leading providers within a few years. By leveraging the capabilities of the HSBC Group in fund management, market making, custody and fund administration, we are confident we can progressively build a strong suite of ETFs.”