HSBC closes $33m Far East UCITS ETF

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 ...