HSBC has unveiled a New Russian capped exchange-traded fund (ETF), Financial Times reports. The HSBC MSCI Russia capped ETF is the first European fund that will physically track the Russian stock market.

The new portfolio, which has a total expense ratio of 60 basis points, will be benchmarked against the MSCI Russia Capped Total Return Net Index. The fund is listed on the London Stock Exchange in both sterling and dollars, with further registrations planned, adds Portfolio Adviser.

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