HSBC Asset Management has launched the HSBC S&P 500 Equal Weight Equity Index fund.
The UK-domiciled fund will track the S&P 500 Equal Weight Thermal Coal Screened index, which ensures exclusions in line with HSBC AM’s thermal coal policy.
HSBC S&P 500 Equal Weight Equity will charge an 0.10-0.17% ongoing charges figure (OCF), dependant on share class, and is available to wholesale and institutional investors.
The launch follows increased demand for equally weighted solutions in recent months, with investors concerned over concentration risk in the US market, the firm said.
Bhavick Patel, head of UK ETF and indexing sales at HSBC AM, said: “Index concentration in US large cap equity benchmarks is top of mind for investors.
“The S&P 500 Equal Weight Equity Index Fund offers timely, diversified access to US equities at a moment when investors are looking for alternatives to market cap weighted benchmarks to mitigate this risk.”
See also: HSBC Asset Management launches Euro Fixed Term Bond 2028 fund
