Chimera Capital LLC launches shariah-compliant ETF tracking Hong Kong-listed Chinese equities

Chimera Capital LLC launches shariah-compliant ETF tracking Hong Kong-listed Chinese equities

ABU DHABI, 25th May, 2023 (WAM) -- Chimera Capital, an Abu-Dhabi-based investment management firm, announced the launch of the Chimera S&P China HK Shariah Exchange Traded Fund.

The fund is a physical, in-kind, liquid, and fully fungible exchange-traded fund (ETF) that will track the performance of Shariah-compliant Chinese equities listed on the Hong Kong Stock Exchange (HKEX). The initial offering period will commence on 29th May 2023 and end on 2nd June 2023.

The Chimera S&P China HK Shariah ETF, the eighth sub-fund under the SCA-registered Chimera Umbrella Fund, will replicate the performance of the S&P China Hong Kong-Listed Shariah Liquid 35/20 Capped Index (AED) (Custom). The index is provided by S&P Dow Jones Indices and the objective is to target 30 Shariah-compliant constituents listed on the Hong Kong Stock Exchange (HKEX).

Syed Basar Shueb, Chairman of Chimera Investment, commented, “The launch of Chimera’s eleventh ETF provides investors on ADX access to one of the world’s biggest and Asia’s fastest growing markets. The suite of ETFs listed in the UAE now provides investors with access to six countries around the world, underlining Chimera’s continued commitment to playing a frontline role in deepening and expanding the UAE’s capital markets landscape.”

Abdulla Salem Al Nuaimi, Chief