HSBC closes $33m Far East UCITS ETF

'Lack of investor demand'

HSBC Global Asset Management UK is closing its the HSBC MSCI EM Far East UCITS ETF (HMFD) owing to a lack of investor demand.

The total net asset value of the ETF has fallen to $33m, below HSBC's threshold of $50m, at which it has the discretion to terminate a fund. HSBC said it considers it "unlikely" that the total net assets of the fund would increase sufficiently in the future to justify the continuation of the fund. The fund will close next month on 6 July 2022 and will redeem all shares to investors. HSBC AM rolls out ESG-focused Asian bond sub-fund of 'flagship' range It was first launched in 2010, investing in emerging markets and aimed to replicate the performance of the MSCI EM Far East index...