London Stock Exchange ETF segment · UCITS ETF
Invest in CMB1 ETF from India
Indian and foreign residents can buy iShares FTSE MIB UCITS ETF (CMB1) units directly through Paasa.
By Paasa · Updated
CMB1 at a glance
- Price
- £216.05-£2.95 (1.35%)
- Expense ratio
- 0.33%
- Day range
- £214.40 – £217.95
- Assets
- £364.3M
- Domicile
- Ireland
- Holdings
- 40
- Launched
- 2010
- Dividends
- Accumulating
- 1 month
- -3.84%
- 6 months
- +15.10%
- YTD
- +13.58%
- 1 year
- +21.15%
- 5 years
- +147.34%
Price change, excluding dividends.
Top 10 holdings
- 1UNICREDIT15.0%
- 2INTESA SANPAOLO14.4%
- 3ENEL9.2%
- 4ENI6.3%
- 5ASSICURAZIONI GENERALI5.7%
- 6FERRARI5.7%
- 7PRYSMIAN5.0%
- 8STMICROELECTRONICS4.1%
- 9BANCA MONTE DEI PASCHI DI SIENA SP3.3%
- 10BPER BANCA3.0%
CMB1 holds 40 securities in total. These 10 are 71.8% of the fund.
Where the money is invested
Sectors
- Financial Services48.6%
- Utilities14.4%
- Industrials10.2%
- Consumer Cyclical9.7%
- Energy8.2%
- Technology5.0%
Countries
- Italy93.6%
- Switzerland4.0%
- Netherlands1.1%
- Luxembourg1.1%
- Other0.1%
- United Kingdom0.0%
Similar funds
| Fund | Expense ratio | Assets |
|---|---|---|
| MIBXLSEAmundi FTSE MIB UCITS ETF Dist | 0.35% | 702.9M |
| DBXIXETRAXtrackers FTSE MIB UCITS ETF 1D | 0.3% | 99.9M |
| IMIBLSEiShares FTSE MIB UCITS ETF EUR (Dist) | 0.35% | 138.2M |
Assets are shown in each fund's own reporting currency.
How to invest in CMB1 from India
Step 1
Open your Paasa account
KYC takes a few minutes: PAN, Aadhaar and address proof. Your brokerage account is opened in your own name with Interactive Brokers.
Step 2
Add funds from your Indian bank account
Remit up to $250,000 a year under the RBI's Liberalised Remittance Scheme. Your bank converts the rupees to US dollars at its rate on the day you remit, and Interactive Brokers converts the dollars to GBP when you buy.
Step 3
Search CMB1 and buy
Find the fund by its ticker, CMB1, on the London Stock Exchange ETF segment, and place your order.
Why invest in CMB1 from India
What CMB1 holds
This exchange-traded fund (ETF) is designed to replicate the financial performance of a specific benchmark index. This index is expertly constructed from a selection of forty of the leading and most actively traded corporations operating in Italy.
Outside US estate tax
CMB1 is domiciled in Ireland, not the US, so it is not a US-situs asset and US estate tax does not apply to it.
Dividends reinvested for you
Dividends from CMB1's holdings are reinvested inside the fund, so nothing is paid out to you and there is no dividend to declare in India.
Paasa handles the paperwork
Investing abroad brings paperwork with it: remittance filings, capital gains reporting, foreign asset disclosure. Paasa prepares all of it for you. Your India-ready tax reports arrive at year end, ready to file.
Why CMB1's UCITS structure matters for Indian investors
CMB1 is domiciled in Ireland, not the US, so it is not a US-situs asset and US estate tax does not apply to it.
On the US shares the fund holds, the 15% US dividend withholding is paid inside the fund, and you cannot claim it as a Foreign Tax Credit in India.
Capital gains are taxed in India the same way as on a US-listed ETF.
Frequently asked questions
Can I buy CMB1 from India?
Yes. Indian residents can buy iShares FTSE MIB UCITS ETF (CMB1) through Paasa. It is listed on the London Stock Exchange ETF segment and trades in GBP. Your money leaves India under the RBI's Liberalised Remittance Scheme, and the units are held in your own name at Interactive Brokers.
What does CMB1 invest in?
iShares FTSE MIB UCITS ETF holds 40 securities. Its largest holdings are UNICREDIT (15.0%), INTESA SANPAOLO (14.4%) and ENEL (9.2%). Financial Services is its largest sector at 48.6%. It is an accumulating fund domiciled in Ireland.
What is the expense ratio of CMB1?
iShares FTSE MIB UCITS ETF has an expense ratio of 0.33% a year, taken from the fund's assets rather than billed to you. The fund manages about £364.3M.
Is CMB1 a UCITS ETF, and why does that matter for Indian investors?
Yes. iShares FTSE MIB UCITS ETF is a UCITS fund domiciled in Ireland. Because it is domiciled outside the US, it is not a US-situs asset, so US estate tax does not apply to it. On the US shares the fund holds, the 15% US dividend withholding is paid inside the fund, and you cannot claim it as a Foreign Tax Credit in India.
Does CMB1 pay dividends?
No. iShares FTSE MIB UCITS ETF is an accumulating fund. Dividends from its holdings are reinvested inside the fund, so nothing is paid out to you and there is no dividend to declare in India.
What tax do I pay in India when I sell CMB1?
In India, gains on foreign ETF units held for more than 24 months are long-term and taxed at 12.5% without indexation, and gains on units held for 24 months or less are short-term and taxed at your income-tax slab rate. Both are worked out in rupees at the GBP/INR rate on the day you bought and the day you sold, so the currency move is part of the gain. Paasa's capital-gains statement gives you the figures for your return.