Nov 23 2011 |
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HSBC Saudi Arabia launches Exchange Traded Fund
HSBC Saudi Arabia, SABB's strategic investment affiliate, has launched the HSBC Amanah Saudi 20 Exchange Traded Fund (ETF), the first ETF from HSBC in the region.The HSBC Amanah Saudi 20 ETF, aims to offer investors capital growth over the medium to long-term by replicating the performance of the HSBC Amanah Saudi 20 Equity Index.
The index, created by Standard & Poor's is made up of the top 20 Shariah-compliant Saudi companies listed on Tadawul and comes with a total expense ratio (TER) of 0.75 percent.
Individual investors may buy and sell ETF units directly through Tadawul via an authorized broker.
© Arab News 2011
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