HSBC European Index Fund
Launch Date 14/01/1989 Initial Charge 0.00%
Fund Size £120M Discount 0.00%
ISIN Number GB0000468776 The total cost of investment after the discount is applied* 0%
Legal Structure OEIC (OEIC) Annual Management Charge 0.25%

* In addition the fund manager will incur stamp duty, bid/offer spreads in the market and stockbroking commission, which may in part be passed on to the investor.

HSBC is a large and diversified banking and financial services group, based in London. It offers a comprehensive range of Index Tracking funds in addition to a range of actively managed funds. The HSBC European Index fund aims to track the FTSE World Europe Ex-UK index of stock market performance in Europe. The FTSE World Europe Ex-UK index comprises a range of companies quoted on European stock exchanges, but excludes UK companies. It is designed to measure changes in the prices of shares across all major industries in the European economy.

The fund invests in a representative sample of the constituent companies within the FTSE World Europe Ex-UK index, reflecting each company's weighting within the index. This technique is known as "partial replication" and often can lead to a greater degree of difference between the fund's performance and that of the index. However, for indices with large numbers of constituents, this is the only practical method. The fund is aligned with the sector weightings of the FTSE World Europe Ex-UK index, and these are shown in the chart below.The HSBC European Index fund aims to track the FTSE World Europe Ex-UK index of stock market performance in Europe. The FTSE World Europe Ex-UK index comprises a range of companies quoted on European stock exchanges, but excludes UK companies. It is designed to measure changes in the prices of shares across all major industries in the European economy.
Key Sector % of fund
   FINANCIALS 21.26%
   CONSUMER PRODUCTS 14.53%
   INDUSTRIALS 12.74%
   TELECOM, MEDIA & TECHNOLOGY 9.46%
   HEALTH CARE 8.57%
   BASIC MATERIALS 6.72%
   UTILITIES 6.44%
   OIL & GAS 6.19%
   SERVICES 5.02%
   CASH & CASH EQUIVALENTS 4.89%

The current sector allocation within the fund is shown in the table above, and the relative performance of the fund is given in the table below. Please bear in mind that past performance is not a guide to the future, the value of the investments and any income can go down as well as up and you may not get back the amount you invested.
Cumulative Performance
3 mth 6 mth 1 yr 3 yr 5 yr
Fund -10.78% -6.43% 13.89% -15.4% 20.98%
Sector -10.36% -6.01% 14.84% -16.39% 22.22%
Relative to sector -0.42% -0.42% -0.95% 0.99% -1.24%
Rank within sector 49/98 44/98 47/95 35/77 41/70

Data supplied by Financial Express as at July 2010, bid/bid, income reinvested. Our views are based upon our understanding of the current legislation. You should not act on any of the information without seeking professional advice. clarity is authorised and regulated by the Financial Services Authority. The Financial Services Authority does not regulate all types of Pensions, Mortgages or Taxation Advice.