Qatar-based asset manager Amwal has listed what it claims is the largest exchange-traded fund (ETF) in the Gulf region.
The ETF will be listed and managed on the Qatar Stock Exchange, trading under the symbol QETF, and is also the country’s first ever exchange-traded investment product.
It was launched in March with Doha Bank acting as its founder and Amwal in charge of raising capital and managing the fund.
The ETF is designed to track the Qatar Exchange Index which is based on the top 20 listed companies in Qatar based on market capitalisation and liquidity.
According to the Qatar Financial Centre Authority, the ETF has listed with an initial open-ended capital of $41.2 million which surpasses the size of any other ETF in the region.
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