London Stock Exchange ETF segment · UCITS ETF
Invest in ISFR ETF from India
Indian and foreign residents can buy iShares MSCI France UCITS ETF (ISFR) units directly through Paasa.
By Paasa · Updated
ISFR at a glance
- Price
- £54.32-£0.25 (0.45%)
- Expense ratio
- 0.25%
- Day range
- £54.32 – £54.85
- Assets
- £174.6M
- Domicile
- Ireland
- Holdings
- 54
- Launched
- 2014
- Dividends
- —
- 1 month
- -4.53%
- 6 months
- +5.64%
- YTD
- -0.32%
- 1 year
- +3.30%
- 5 years
- +39.73%
Price change, excluding dividends.
Top 10 holdings
- 1SCHNEIDER ELECTRIC8.8%
- 2TOTALENERGIES8.6%
- 3SAFRAN SA6.3%
- 4AIRBUS GROUP6.3%
- 5LAIR LIQUIDE SOCIETE ANONYME POUR5.8%
- 6LVMH5.5%
- 7BNP PARIBAS SA5.4%
- 8LOREAL SA5.1%
- 9SANOFI SA4.3%
- 10AXA SA3.8%
ISFR holds 54 securities in total. These 10 are 59.9% of the fund.
Where the money is invested
Sectors
- Industrials33.3%
- Financial Services13.4%
- Consumer Cyclical11.2%
- Healthcare8.6%
- Consumer Defensive8.3%
- Energy7.8%
Countries
- France89.2%
- Netherlands7.1%
- Luxembourg1.9%
- Switzerland1.6%
- Other0.2%
- United Kingdom0.0%
Similar funds
| Fund | Expense ratio | Assets |
|---|---|---|
| EWQAMEXiShares MSCI France ETF | 0.5% | 349.0M |
Assets are shown in each fund's own reporting currency.
How to invest in ISFR 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 ISFR and buy
Find the fund by its ticker, ISFR, on the London Stock Exchange ETF segment, and place your order.
Why invest in ISFR from India
What ISFR holds
This fund is designed to replicate the investment returns of an index consisting solely of companies operating in France.
Outside US estate tax
ISFR 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 ISFR's UCITS structure matters for Indian investors
ISFR 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 ISFR from India?
Yes. Indian residents can buy iShares MSCI France UCITS ETF (ISFR) 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 ISFR invest in?
iShares MSCI France UCITS ETF holds 54 securities. Its largest holdings are SCHNEIDER ELECTRIC (8.8%), TOTALENERGIES (8.6%) and SAFRAN SA (6.3%). Industrials is its largest sector at 33.3%. The fund is domiciled in Ireland.
What is the expense ratio of ISFR?
iShares MSCI France UCITS ETF has an expense ratio of 0.25% a year, taken from the fund's assets rather than billed to you. The fund manages about £174.6M.
Is ISFR a UCITS ETF, and why does that matter for Indian investors?
Yes. iShares MSCI France 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 ISFR?
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.