- The ETF will be listed on the Abu Dhabi Exchange (ADX) and will offer investors direct access to the Turkish stock market
Abu Dhabi: Chimera Capital, an Abu-Dhabi-based investment management firm and subsidiary of Chimera Investment, announced today the launch of the Chimera S&P Turkey Shariah ETF (Bloomberg: CHTRSHIN). The fund is a physical, in-kind, liquid and fully fungible exchange-traded fund (ETF), and will track the performance of Turkey-listed, Shariah-compliant securities.
The Chimera S&P Turkey Shariah ETF, the sixth sub-fund under the SCA-registered Chimera Umbrella Fund, will track the performance of the S&P Turkey Shariah Liquid 35/20 Capped Index (Bloomberg: SPTSLCAP). The index is provided by S&P Dow Jones Indices and tracks the performance of the most liquid Shariah-complaint stocks listed on the Borsa Istanbul.
Syed Basar Shueb, Chairman of Chimera Capital, commented: “The launch of Chimera Capital’s ninth ETF further broadens the range and diversity of the company’s listed ETF products which give investors access to multiple stock markets, and contributes to the further deepening and expanding of the UAE capital markets.”
Saeed Hamad Al Dhaheri, Managing Director and Chief Executive Officer of Abu Dhabi Securities Exchange said: “We are delighted to welcome another ETF listing by Chimera Capital on the exchange as we work towards enhancing market liquidity and making ADX a regional hub for a broad array of sector and geographically-focused ETFs. ADX continues to execute its strategy of introducing the widest array of products and services to provide investors with more flexibility and greater opportunities for hedging and diversification.”
The Chimera S&P Turkey Shariah ETF is an Income Share Class B which will be listed on the Abu Dhabi Securities Exchange (ADX). Future dividends received by the fund will be distributed to investors, as available.
The latest ETF launch comes on the back of Chimera’s recent listing of two US Shariah-compliant ETFs in July, as well as two other ADX-listed ETF launches completed earlier this year, the Chimera S&P KSA Shariah ETF and Chimera S&P Kuwait Shariah ETF.
Sherif Salem, Chief Investment Officer – Public Markets at Chimera Capital, added: “The Chimera S&P Turkey Shariah ETF will provide investors with easy and direct access to capitalize on Turkey’s large and highly diversified economy. With the latest launch, there are now nine ETFs listed on UAE stock markets, giving investors access to five different stock exchanges.”
The ETF will be managed by Chimera Capital’s onshore company, Chimera Capital LLC, which is licensed by the Securities and Commodities Authority (SCA) as an investment management company. BNY Mellon will act as the ETFs’ global custodian. Meanwhile, Authorized Participants for the fund are International Securities, EFG-Hermes, Arqaam Securities Daman Securities, and BHM Capital.
Marius Baumann, Global Head of Custom Indices at S&P Dow Jones Indices, commented: “S&P Dow Jones Indices is pleased that Chimera Capital has selected and licensed the S&P Turkey Shariah Liquid 35/20 Capped Index as the reference benchmark for its new fund. S&P DJI is proud to offer independently calculated and transparent indices that represent and measure different parts of the global markets. This particular index provides asset managers such as Chimera and their end clients the ability to access, gain exposures to and insights on the performance of companies listed in the Borsa Istanbul.”
Anthony Habis, Global Head Client Coverage – Asset Servicing, BNY Mellon, added: “Today’s announcement reaffirms our commitment to our collaboration with Chimera Capital, as it focuses on providing investors with multiple strategies to meet their investment preferences. As the global custodian for all of Chimera Capital’s Shariah-compliant ETFs, we continue to offer UAE investors direct access to a variety of equity markets including the U.S. and now Turkey.”
About Chimera Capital LLC
Chimera Capital LLC, an Abu Dhabi-based investment firm, offers its clients unique access to a vast roster of innovative investment instruments with a primary focus on the alternative asset management space. Chimera Capital LLC leverages its parent company’s extensive experience in private investments, an unrivalled regional access to best-in-class service providers and financial intermediaries, and a vast network of high-net-worth individuals, family offices and private investment companies to consistently deliver above-market returns. Chimera Capital LLC, owned by Chimera Investment LLC, is duly licensed and regulated by the UAE’s Securities & Commodities Authority (SCA), and fully adheres to international standards of corporate governance.
For further information, please contact:
Chimera Capital LLC
About Abu Dhabi Securities Exchange (ADX)
Abu Dhabi Securities Exchange (ADX) was established on November 15 of the year 2000 by Local Law No. (3) Of 2000, the provisions of which vest the market with a legal entity of autonomous status, independent finance and management. The Law also provides ADX with the necessary supervisory and executive powers to exercise its functions. On 17th March 2020, ADX was converted from a “Public Entity” to a “Public Joint Stock Company PJSC” pursuant to law No. (8) of 2020. ADX is part of ADQ, one of the region’s largest holding companies with a broad portfolio of major enterprises spanning key sectors of Abu Dhabi’s diversified economy.
ADX is a market for trading securities; including shares issued by public joint stock companies, bonds issued by governments or corporations, exchange traded funds, and any other financial instruments approved by the UAE Securities and Commodities Authority (SCA).
ADX is the second largest market in the Arab region and its strategy of providing stable financial performance with diversified sources of incomes is aligned with the guiding principles of the UAE “Towards the next 50” agenda. The national plan charts out the UAE’s strategic development scheme which aims to build a sustainable, diversified and high-value added economy that positively contributes to transition to a new global sustainable development paradigm.
For more information, please contact:
Abdulrahman Saleh ALKhateeb
Manager of Corporate Communication & Digital Marketing
Marketing & Corporate Communication Department
About S&P Dow Jones Indices
S&P Dow Jones Indices is the largest global resource for essential index-based concepts, data and research, and home to iconic financial market indicators, such as the S&P 500® and the Dow Jones Industrial Average®. More assets are invested in products based on our indices than products based on indices from any other provider in the world. Since Charles Dow invented the first index in 1884, S&P DJI has been innovating and developing indices across the spectrum of asset classes helping to define the way investors measure and trade the markets.
S&P Dow Jones Indices is a division of S&P Global (NYSE: SPGI), which provides essential intelligence for individuals, companies, and governments to make decisions with confidence. For more information, visit https://www.spglobal.com/spdji/en/.
About BNY Mellon
BNY Mellon is a global investments company dedicated to helping its clients manage and service their financial assets throughout the investment lifecycle. Whether providing financial services for institutions, corporations or individual investors, BNY Mellon delivers informed investment and wealth management and investment services in 35 countries. As of June 30, 2022, BNY Mellon had $43.0 trillion in assets under custody and/or administration, and $1.9 trillion in assets under management. BNY Mellon can act as a single point of contact for clients looking to create, trade, hold, manage, service, distribute or restructure investments. BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation (NYSE: BK). Additional information is available on www.bnymellon.com. Follow us on Twitter @BNYMellon or visit our newsroom at www.bnymellon.com/newsroom for the latest company news.
Senior Specialist | Marketing & Communications