London Stock Exchange ETF segment · UCITS ETF
Invest in FLES ETF from India
Indian and foreign residents can buy Franklin Euro Short Maturity UCITS ETF (FLES) units directly through Paasa.
By Paasa · Updated
FLES at a glance
- Price
- €25.64-€0.06 (0.21%)
- Expense ratio
- 0.15%
- Day range
- €25.64 – €25.64
- Assets
- €553.6M
- Domicile
- Ireland
- Holdings
- 88
- Launched
- 2018
- Dividends
- Distributing
- 1 month
- +0.02%
- 6 months
- -1.40%
- YTD
- -0.95%
- 1 year
- -0.68%
- 5 years
- +2.13%
Price change, excluding dividends.
Top 10 holdings
- 1BUNDES 1.3% 15/10/2713.6%
- 2CASH7.0%
- 3ITALY 2.1% 26/08/276.6%
- 4FRANCE 0% 27/01/276.6%
- 5BUNDES 0% 15/08/305.5%
- 6TREASU 0% 10/12/264.0%
- 7AUSTRI 0% 26/11/263.2%
- 8EUROP 2.625% 04/07/282.8%
- 9ROMAN 2.875% 11/03/292.3%
- 10GREECE 1.5% 18/06/302.2%
FLES holds 88 securities in total. These 10 are 53.7% of the fund.
Where the money is invested
Sectors
- Government61.5%
- Corporate25.6%
- Securitized1.1%
Countries
- Germany24.8%
- France11.9%
- Belgium9.7%
- Italy8.5%
- Netherlands7.6%
- Other6.4%
How to invest in FLES 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 EUR when you buy.
Step 3
Search FLES and buy
Find the fund by its ticker, FLES, on the London Stock Exchange ETF segment, and place your order.
Why invest in FLES from India
What FLES holds
The fund's main objective is to generate strong total returns, combining both income and capital appreciation, by concentrating on short-duration bonds issued in Euros. Its portfolio primarily consists of high-quality debt securities from corporations and governments, all characterized by a brief maturity period and denominated in the Euro currency.
Outside US estate tax
FLES 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 FLES' UCITS structure matters for Indian investors
FLES is domiciled in Ireland, not the US, so it is not a US-situs asset and US estate tax does not apply to it.
Capital gains are taxed in India the same way as on a US-listed ETF.
Frequently asked questions
Can I buy FLES from India?
Yes. Indian residents can buy Franklin Euro Short Maturity UCITS ETF (FLES) through Paasa. It is listed on the London Stock Exchange ETF segment and trades in EUR. 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 FLES invest in?
Franklin Euro Short Maturity UCITS ETF holds 88 securities. Its largest holdings are BUNDES 1.3% 15/10/27 (13.6%), CASH (7.0%) and ITALY 2.1% 26/08/27 (6.6%). Government is its largest sector at 61.5%. It is a distributing fund domiciled in Ireland.
What is the expense ratio of FLES?
Franklin Euro Short Maturity UCITS ETF has an expense ratio of 0.15% a year, taken from the fund's assets rather than billed to you. The fund manages about €553.6M.
Is FLES a UCITS ETF, and why does that matter for Indian investors?
Yes. Franklin Euro Short Maturity 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.
How are FLES dividends taxed in India?
Franklin Euro Short Maturity UCITS ETF is a distributing fund. It pays the dividends from its holdings out to you in cash. Dividends are taxed at your slab rate in India. Paasa's dividend report lists the gross dividend and any tax withheld for each payment.
What tax do I pay in India when I sell FLES?
Gains are taxable in India. Debt-oriented funds can be taxed differently from equity funds, so confirm your rate before selling. The gain is worked out in rupees at the EUR/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.