Mon 27-06-2022 17:23 PM
ABU DHABI, 27th June, 2022 (WAM) — Chimera Capital, an Abu-Dhabi-based investment management firm and subsidiary of Chimera Investment, today announced the launch of the Chimera S&P US Shariah Value Exchange Traded Fund and the Chimera S&P US Shariah Growth Exchange Traded Fund, both of which are physical, in-kind, liquid and fully fungible exchange-traded funds (ETFs).
Both funds will be listed on Abu Dhabi Securities Exchange (ADX).
The new Shariah-compliant ETFs will offer UAE investors direct access to US equity markets, further expanding Chimera’s product offering. The latest launches come on the back of two other ADX-listed, ETF listings earlier this year, the Chimera S&P KSA Shariah and Chimera S&P Kuwait Shariah ETFs.
Saeed Hamad Al Dhaheri, Managing Director and Chief Executive Officer of Abu Dhabi Securities Exchange, said, “The listing of Chimera Capital’s Shariah-compliant S&P US ETFs will provide investors on the ADX with new opportunities to diversify their holdings in an efficient and low-cost manner and has made our exchange home to the largest number of ETFs in the region. As part of our strategy to enhance market liquidity and attract more international investments, we will continue to encourage new listings and roll out products and services that meet the needs of market participants.”
WAM/Lina ibrahim/Khoder Nashar