London Stock Exchange ETF segment · UCITS ETF
Invest in UB23 ETF from India
Indian and foreign residents can buy UBS MSCI Canada UCITS ETF dis (UB23) units directly through Paasa.
By Paasa · Updated
UB23 at a glance
- Price
- £49.05+£0.25 (0.51%)
- Expense ratio
- 0.33%
- Day range
- £49.05 – £49.05
- Assets
- £1.8B
- Domicile
- Luxembourg
- Holdings
- 86
- Launched
- 2009
- Dividends
- Distributing
- 1 month
- -2.22%
- 6 months
- +10.29%
- YTD
- +9.26%
- 1 year
- +18.92%
- 5 years
- +64.44%
Price change, excluding dividends.
Top 10 holdings
- 1ROYAL BANK OF CANADA9.1%
- 2TORONTO-DOMINION BANK6.5%
- 3SHOPIFY INC - CLASS A5.7%
- 4BANK OF MONTREAL3.8%
- 5BANK OF NOVA SCOTIA3.7%
- 6ENBRIDGE INC3.4%
- 7CAN IMPERIAL BK OF COMMERCE3.3%
- 8AGNICO EAGLE MINES LTD3.3%
- 9CANADIAN NATURAL RESOURCES3.3%
- 10SUNCOR ENERGY INC2.6%
UB23 holds 86 securities in total. These 10 are 44.7% of the fund.
Where the money is invested
Sectors
- Financial Services39.1%
- Energy17.7%
- Basic Materials16.0%
- Technology8.9%
- Industrials8.8%
- Consumer Cyclical3.4%
Countries
- Canada97.0%
- United States2.3%
- Other0.7%
How to invest in UB23 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 UB23 and buy
Find the fund by its ticker, UB23, on the London Stock Exchange ETF segment, and place your order.
Why invest in UB23 from India
What UB23 holds
The fund's portfolio is primarily composed of stocks included in the MSCI Canada Index, with the allocation of assets to individual companies closely mirroring their weightings within this benchmark. Its fundamental objective is to precisely replicate the total return and price performance of the MSCI Canada Index, net of all associated costs.
Outside US estate tax
UB23 is domiciled in Luxembourg, 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 UB23's UCITS structure matters for Indian investors
UB23 is domiciled in Luxembourg, 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 UB23 from India?
Yes. Indian residents can buy UBS MSCI Canada UCITS ETF dis (UB23) 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 UB23 invest in?
UBS MSCI Canada UCITS ETF dis holds 86 securities. Its largest holdings are ROYAL BANK OF CANADA (9.1%), TORONTO-DOMINION BANK (6.5%) and SHOPIFY INC - CLASS A (5.7%). Financial Services is its largest sector at 39.1%. It is a distributing fund domiciled in Luxembourg.
What is the expense ratio of UB23?
UBS MSCI Canada UCITS ETF dis has an expense ratio of 0.33% a year, taken from the fund's assets rather than billed to you. The fund manages about £1.8B.
Is UB23 a UCITS ETF, and why does that matter for Indian investors?
Yes. UBS MSCI Canada UCITS ETF dis is a UCITS fund domiciled in Luxembourg. 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 UB23 dividends taxed in India?
UBS MSCI Canada UCITS ETF dis 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 UB23?
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.