London Stock Exchange ETF segment · UCITS ETF
Invest in ESIF ETF from India
Indian and foreign residents can buy iShares MSCI Europe Financials Sector UCITS ETF (ESIF) units directly through Paasa.
By Paasa · Updated
ESIF at a glance
- Price
- £14.66+£0.17 (1.15%)
- Expense ratio
- 0.18%
- Day range
- £14.60 – £14.71
- Assets
- £570.1M
- Domicile
- Ireland
- Holdings
- 84
- Launched
- 2020
- Dividends
- —
- 1 month
- -1.70%
- 6 months
- +25.91%
- YTD
- +14.95%
- 1 year
- +27.11%
- 5 years
- +173.64%
Price change, excluding dividends.
Top 10 holdings
- 1HSBC HOLDINGS PLCHSBA.L9.6%
- 2BANCO SANTANDERSAN.MC5.7%
- 3ALLIANZALV.DE5.1%
- 4BANCO BILBAO VIZCAYA ARGENTARIA SABBVA.MC4.4%
- 5UBS GROUP AGUBSG.SW4.2%
- 6UNICREDITUCG.MI3.6%
- 7BNP PARIBAS SABNP.PA3.1%
- 8INTESA SANPAOLOISP.MI3.0%
- 9ZURICH INSURANCE GROUP AGZURN.SW2.9%
- 10ING GROEPINGA.AS2.9%
ESIF holds 84 securities in total. These 10 are 44.6% of the fund.
Where the money is invested
Sectors
- Financial Services98.5%
- Technology1.0%
- Industrials0.5%
Countries
- United Kingdom22.9%
- Spain12.7%
- Germany12.0%
- Switzerland11.1%
- Italy10.9%
- France7.5%
How to invest in ESIF 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 ESIF and buy
Find the fund by its ticker, ESIF, on the London Stock Exchange ETF segment, and place your order.
Why invest in ESIF from India
What ESIF holds
This investment product aims to replicate the returns of a specific market benchmark comprising stocks from European firms operating in the financial services industry.
Outside US estate tax
ESIF is domiciled in Ireland, not the US, so it is not a US-situs asset and US estate tax does not apply to it.
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 ESIF's UCITS structure matters for Indian investors
ESIF 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 ESIF from India?
Yes. Indian residents can buy iShares MSCI Europe Financials Sector UCITS ETF (ESIF) 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 ESIF invest in?
iShares MSCI Europe Financials Sector UCITS ETF holds 84 securities. Its largest holdings are HSBC HOLDINGS PLC (9.6%), BANCO SANTANDER (5.7%) and ALLIANZ (5.1%). Financial Services is its largest sector at 98.5%. The fund is domiciled in Ireland.
What is the expense ratio of ESIF?
iShares MSCI Europe Financials Sector UCITS ETF has an expense ratio of 0.18% a year, taken from the fund's assets rather than billed to you. The fund manages about £570.1M.
Is ESIF a UCITS ETF, and why does that matter for Indian investors?
Yes. iShares MSCI Europe Financials Sector 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.
What tax do I pay in India when I sell ESIF?
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.