ABU DHABI, (Pakistan Point News - 23rd Feb, 2021) Abu Dhabi Securities Exchange (ADX) has broadened its offering of products and services further with the listing of Chimera S&P UAE UCITS ETF under the trading symbol (CHAEIN), a liquid, fully fungible, fully tradeable, and transparent exchange-traded fund (ETF), a sub-fund of the recently launched Chimera UCITS ICAV.
The latest ETF to be listed on ADX is a liquid, fully fungible, fully tradeable and transparent investment vehicle designed to track the performance of the S&P UAE BMI Liquid 20/35 Capped Index (Bloomberg: SPUAECAP), an index which measures the performance of liquid UAE listed stocks. The index includes the largest stocks by capitalisation in the United Arab Emirates, providing broad exposure to the UAE economy.
The ETF’s launch follows the introduction back in July 2020 of Chimera’s first ETF, the Chimera S&P UAE Shariah ETF, which has now surpassed AED50 million in AUM to become the third-largest ETF listed in MENA markets.
Mohamed Ali Al Shorafa Al Hammadi, Chairman of Abu Dhabi Securities Exchange, said, "Over the coming years, ADX will continue to leverage Abu Dhabi's unique regulatory environment, infrastructure and stability to stimulate long-term growth across the Emirate and more than double the market capitalisation over the next three years."
Commenting on the listing of the new ETF, Saeed Hamad Al Dhaheri, Chief Executive of Abu Dhabi Securities Exchange, said, "Chimera’s second ETF on ADX comes amid our efforts to enhance market liquidity. Over the past year, we have broadened our products and services, allowing investors to hedge and execute complex trading strategies."
On this occasion, Syed Basar Shueb, the Chairman of Chimera Capital Limited commented, "We are excited to bring this new UCITS-regulated product to market, which will give investors further access to the increasingly appealing UAE economy."
Seif Fikry, Chief Executive Officer (CEO) of Chimera Capital Limited, added, "As with Chimera’s first ETF, the new ETF provides investors with the added flexibility that comes from being able to choose between distributing and accumulating share classes, a feature which will make the fund attractive to different investor types."