HSBC Saudi Arabia launched two new funds in December: the HSBC Saudi Equity Index Fund, and the HSBC Petrochemical Equity Opportunities Fund. HSBC is also offering participatory notes and swaps over these funds. HSBCs Saudi Petrochemical Equity Index comprises 11 shares, including Sabic, which is the dominant company in the Saudi equity market. The broader equity index tracks 36 stocks across a broad range of sectors. Both funds are passively managed and aimed at institutional investors and third-party distributors. HSBC Saudi Arabia already offers participatory notes and swaps to its existing funds: Amanah Saudi Equity, Amanah Saudi Industrial Companies, Financial Institutions, Saudi Equity and the Saudi Equity Trading fund.