XETRA · UCITS ETF
Invest in UIMF ETF from India
Indian and foreign residents can buy UBS Core MSCI Europe UCITS ETF hEUR (UIMF) units directly through Paasa.
By Paasa · Updated
UIMF at a glance
- Price
- €20.43+€0.14 (0.69%)
- Expense ratio
- 0.09%
- Day range
- €20.34 – €20.43
- Assets
- €2.8B
- Domicile
- Luxembourg
- Holdings
- 415
- Launched
- 2017
- Dividends
- Accumulating
- 1 month
- -2.41%
- 6 months
- +7.73%
- YTD
- +8.93%
- 1 year
- +13.72%
- 5 years
- +59.20%
Price change, excluding dividends.
Top 10 holdings
- 1SAP SE2.6%
- 2ASML HOLDING NV2.4%
- 3NESTLE SA-REG2.2%
- 4ROCHE HOLDING AG-GENUSSCHEIN2.1%
- 5NOVO NORDISK A/S-B2.0%
- 6ASTRAZENECA PLC1.9%
- 7NOVARTIS AG-REG1.9%
- 8SHELL PLC1.9%
- 9HSBC HOLDINGS PLC1.8%
- 10SIEMENS AG-REG1.6%
UIMF holds 415 securities in total. These 10 are 20.4% of the fund.
Where the money is invested
Sectors
- Financial Services25.1%
- Industrials19.1%
- Healthcare12.8%
- Technology9.2%
- Consumer Defensive8.3%
- Consumer Cyclical6.2%
Countries
- United Kingdom21.6%
- Switzerland15.2%
- Germany13.5%
- France13.3%
- Netherlands10.5%
- Spain6.1%
How to invest in UIMF 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 UIMF and buy
Find the fund by its ticker, UIMF, on XETRA, and place your order.
Why invest in UIMF from India
What UIMF holds
This ETF primarily invests in European equities that are constituents of the MSCI Europe Index, with company weightings mirroring their representation in the benchmark. Its core objective is to closely track the price and total return performance of the MSCI Europe Index, with currency exposure to the Euro hedged, after deducting all fees.
Outside US estate tax
UIMF is domiciled in Luxembourg, not the US, so it is not a US-situs asset and US estate tax does not apply to it.
Dividends reinvested for you
Dividends from UIMF's holdings are reinvested inside the fund, so nothing is paid out to you and there is no dividend to declare in India.
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 UIMF's UCITS structure matters for Indian investors
UIMF 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 UIMF from India?
Yes. Indian residents can buy UBS Core MSCI Europe UCITS ETF hEUR (UIMF) through Paasa. It is listed on XETRA 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 UIMF invest in?
UBS Core MSCI Europe UCITS ETF hEUR holds 415 securities. Its largest holdings are SAP SE (2.6%), ASML HOLDING NV (2.4%) and NESTLE SA-REG (2.2%). Financial Services is its largest sector at 25.1%. It is an accumulating fund domiciled in Luxembourg.
What is the expense ratio of UIMF?
UBS Core MSCI Europe UCITS ETF hEUR has an expense ratio of 0.09% a year, taken from the fund's assets rather than billed to you. The fund manages about €2.8B.
Is UIMF a UCITS ETF, and why does that matter for Indian investors?
Yes. UBS Core MSCI Europe UCITS ETF hEUR 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.
Does UIMF pay dividends?
No. UBS Core MSCI Europe UCITS ETF hEUR is an accumulating fund. Dividends from its holdings are reinvested inside the fund, so nothing is paid out to you and there is no dividend to declare in India.
What tax do I pay in India when I sell UIMF?
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 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.