Wednesday, Jun 29, 2016

Abu Dhabi: The Dubai Financial Market (DFM) on Wednesday welcomed the listing of Afkar Capital’s Exchange Traded Fund (ETF), under the trading symbol UAETF.

The fund has been designed to replicate the S&P UAE BMI Liquid 20/35 Capped Index, which includes the largest stocks by capitalisation in the country.

The reference price of the ETF units will be updated on a daily basis before the trading session as per the up-to-date indicative net asset value. The price limits of 15 per cent up and 10 per cent down are applied on the ETF units from the first day of listing.

The fund is regulated under the European Union’s regulations and is governed by the rules of the UAE’s Securities and Commodities Authority, the DFM, Abu Dhabi Global Market, and the Central Bank of Ireland.

On Monday, Afkar announced the launch of its S&P UAE UCITS ETF, the first liquid, fully-tradable and transparent ETF listed under the country’s new regulations.

Staff Report

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