Abu Dhabi-based fund manager Chimera Capital has launched avshariah-compliant ETF that tracks Saudi Arabian stocks.
The fund, which will be listed on the Abu Dhabi Securities Exchnage, is designed to cater for what the firm describes as “the growing appetite for diversified investments among investors in the region.
The Chimera S&P KSA Shariah Compliant ETF is the second sub fund of the Chimera umbrella fund to track an S&P Dow Jones Indices Shariah compliant index.
The index tracks the performance of the top 30 most liquid shariah-compliant equities listed on the Saudi stock exchange.
BNY Mellon has been selected as the ETF’s global custodian while International Securities, EFG-Hermes, Daman Securities, BHM Capital, and Arqaam Securities have been appointed as authorised participants.
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