HSBC Asset Management launches two Islamic ESG ETFs on the London Stock Exchange

HSBC Asset Management (HSBC AM) has launched two new Islamic ESG ETFs on the London Stock Exchange

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By ETFWorld.co.uk

Olga de Tapia, Global Head of ETF & Indexing Sales, HSBC AM

HSBC MSCI USA Islamic ESG UCITS ETF

The investment objective of HSBC MSCI USA Islamic ESG UCITS ETF is to track as closely as possible the returns of the MSCI USA Islamic ESG Universal Screened Select Index. The Index is a subset of the MSCI USA Islamic Index and is made up of large and mid-cap companies (as measured by the market value of their shares) based in the US equity market, that comply with Shariah investment principles, as defined by the Index Provider.

The aim is to minimise as far as possible the tracking error between the Sub-Fund’s performance and that of the Index.

The admission of the New Share Class is to the Official List and to trading on the London Stock Exchange’s main market for listed securities will become effective, and dealings will commence today 18 November 2022.

Source: ETFWorld.co.uk