HSBC has launched the first of a range of ‘smart beta' ETFs, giving investors exposure to one of its own tailored global benchmarks.
The ETF tracks HSBC’s Economic Scale Index Worldwide, a customised index where the weightings are calibrated to reflect the economic footprint of its constituents, rather than their market caps.
An HSBC spokesman said: “We have a number of HSBC Economic Scale Indices (HESI) which were launched in June 2012.
“Having discussed these indices with our customers during the past couple of years we have launched this ETF in response to their demand for access to the worldwide index through a liquid UCITs vehicle.
"We expect to launch more ETFs which provide broad market access at relatively low cost."
The HSBC ESI Worldwide Equity UCITS ETF - which has a TER of 0.25% - is the first of several planned.
