London Stock Exchange ETF segment · UCITS ETF
Invest in HBKU ETF from India
Indian and foreign residents can buy HSBC Global Funds ICAV - Global Sukuk UCITS ETF (HBKU) units directly through Paasa.
By Paasa · Updated
HBKU at a glance
- Price
- $11.26-$0.01 (0.05%)
- Expense ratio
- 0.37%
- Day range
- $11.20 – $11.32
- Assets
- $580.5M
- Domicile
- Ireland
- Holdings
- —
- Launched
- 2023
- Dividends
- —
- 1 month
- -2.48%
- 6 months
- +0.04%
- YTD
- -1.97%
- 1 year
- -1.45%
- 5 years
- —
Price change, excluding dividends.
Top 10 holdings
- 1KSA Sukuk Ltd 4.274% 22/05/20291.9%
- 2KSA Ijarah Sukuk Ltd 4.875% 09/09/20351.8%
- 3KSA Sukuk Ltd 4.511% 22/05/20331.8%
- 4Global Sukuk Ventures 4.25% 10/11/20351.8%
- 5SA Global Sukuk Ltd 2.694% 17/06/20311.7%
- 6CAPITAL CASH CTRL1.5%
- 7KSA Sukuk Ltd 2.969% 29/10/20291.4%
- 8Isdb Trust Services NO 2 SARL 4.906% 03/10/20281.4%
- 9KSA Sukuk Ltd 5.268% 25/10/20281.4%
- 10Suci Second Investment Co 6% 25/10/20281.4%
These 10 are 16.0% of the fund.
Where the money is invested
Sectors
- Corporate55.3%
- Government40.4%
How to invest in HBKU 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.
Step 3
Search HBKU and buy
Find the fund by its ticker, HBKU, on the London Stock Exchange ETF segment, and place your order.
Why invest in HBKU from India
What HBKU holds
This investment vehicle is structured to offer both steady income generation and the prospect of capital appreciation over time. Its strategy involves closely mirroring the total return performance of the FTSE IdealRatings Sukuk Index.
Outside US estate tax
HBKU is domiciled in Ireland, not the US, so it is not a US-situs asset and US estate tax does not apply to it.
Hold a dollar asset
HBKU is priced in US dollars, so a weaker rupee adds to what it's worth in rupees. The rupee depreciated over 85% against the dollar between 2010 and 2025.
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 HBKU's UCITS structure matters for Indian investors
HBKU 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 HBKU from India?
Yes. Indian residents can buy HSBC Global Funds ICAV - Global Sukuk UCITS ETF (HBKU) through Paasa. It is listed on the London Stock Exchange ETF segment and trades in US dollars. 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 HBKU invest in?
Its largest holdings are KSA Sukuk Ltd 4.274% 22/05/2029 (1.9%), KSA Ijarah Sukuk Ltd 4.875% 09/09/2035 (1.8%) and KSA Sukuk Ltd 4.511% 22/05/2033 (1.8%). Corporate is its largest sector at 55.3%. The fund is domiciled in Ireland.
What is the expense ratio of HBKU?
HSBC Global Funds ICAV - Global Sukuk UCITS ETF has an expense ratio of 0.37% a year, taken from the fund's assets rather than billed to you. The fund manages about $580.5M.
Is HBKU a UCITS ETF, and why does that matter for Indian investors?
Yes. HSBC Global Funds ICAV - Global Sukuk 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.
What tax do I pay in India when I sell HBKU?
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 USD/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.