Abu Dhabi asset manager unveils Sharia-compliant ETF – The National
- Date: 22-Jul-2020
- Source: The National
- Sector:Financial Markets
- Country:UAE
Abu Dhabi asset manager unveils Sharia-compliant ETF – The National
The ETF will have two different asset classes in Dubai and Abu Dhabi
Exchanges across the region are stepping up efforts to diversify their product offerings to bring more foreign direct investment and boost trading activity. Satish Kumar / The National
July 21, 2020
July 21, 2020
Chimera Capital, an Abu Dhabi asset management company and subsidiary of Chimera Investments, launched an exchange traded fund that will be available to investors through the UAE's two main stock exchanges.
The Chimera S&P UAE Sharia ETF will have two different share classes that will track a Sharia-compliant index compiled from stocks listed in Abu Dhabi and Dubai.
Class-A shares will be listed on the Abu Dhabi Securities Exchange and gains will be ploughed back into the fund. Class-B shares will be listed on the Dubai Financial Market, with dividends distributed to investors.
Exchanges across the region are stepping up efforts to diversify their product offerings to bring more foreign direct investment and boost trading activity.
Last week, ADX chief executive Khaleefa Al Mansouri told
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