HSBC lists physical Russia ETF as noise around swap-based ETFs grows louder

HSBC's head of ETFs says the bank has no plans to create swap-based products and there should be steps to make structures clearer to investors.

Russia is an 'engine for growth' says HSBC's Farley

HSBC has launched a Russian exchange-traded fund (ETF) in London. It is the first physically backed Russian ETF in the European market and its listing comes as there is heightening speculation about the risks involved in swap-based ETFs.

The ETF tracks the MSCI Russia Capped Total Return Net Index and the launch is part of HSBC's growing emerging markets ETF offering. "Russia is one of the big emerging markets that will be an engine for growth over the long term so we think there will be medium-

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