Chimera Capital's ETF surpasses AED50 million AUM milestone in only six months

The Chimera S&P UAE Shariah ETF is ranked amongst the top three largest ETFs listed in the MENA's stock exchanges

Chimera Capital's ETF surpasses AED50 million AUM milestone in only six months

Abu Dhabi, UAE – In a strong sign of the popularity in its ETF, Chimera Capital LLC, an Abu Dhabi-based asset management firm, announces today that it has surpassed  AED 50 million (USD 13.6 million) in assets under management (AUM) in its Chimera S&P UAE Shariah Exchange Traded Fund (ETF).

Listed just six months ago in August 2020 on the Abu Dhabi Securities Exchange (ADX) and Dubai Financial Market (DFM), the Chimera S&P UAE Shariah ETF – which tracks the S&P UAE Domestic Shariah Liquid 35/20 Capped Index (Bloomberg: SPSHDAAN) - now ranks as the third largest ETF listed in the MENA region.

The Chimera S&P UAE Shariah ETF’s popularity is further supported by investors seeking to capitalise on the prospects of the UAE's economy, who have benefited from the ETF’s performance in the first six months, with Net Asset Value increasing by over 19% for both ETF share classes[1].  

Commenting on the milestone, Seif Fikry,Chief Executive Officer at Chimera Capital, said: “Strong performance and robust inflows have accelerated Chimera S&P UAE Shariah ETF’s rise, helping us to reach this significant milestone in such a short space of time. There is a growing appetite for diversified investments among GCC investors and we are enabling them to capitalise on the economic prospects of the UAE with this ETF.”

Sherif Salem, Chief Investment Officer-Capital Markets, added: “While there are still a number of challenges to address in the Gulf’s ETF landscape, such as a lack of regulations around authorized investment advisors, as well as a lack of dedicated long-term money to the local markets such as pension funds, university endowments, insurance companies and sovereign wealth funds, we’re excited about the future of ETFs in the region and proud to be delivering simple, cost-effective and efficient investment tools for investors.”

Compared to more than 6,970 ETFs globally holding more than US$7tn in assets from more than 400 providers, ETFs in the Middle East are        relatively low in quantity and worth only US$285 million. Despite this, Chimera Capital launched its Chimera S&P UAE Shariah ETF to capitalise on the growing interest in diversified investments in the Gulf and sees a significant opportunity for further growth in the region.

The ETF is supported by S&P Dow Jones Indices, the index provider; HSBC Middle East, which acts as local custodian; BNY Mellon acts as global custodian; International Securities, EFG-Hermes UAE, BH Mubasher and Arqaam Capital are authorized participants.

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Marie Peguilhan 

About Chimera Capital LLC

Chimera Capital LLC, an Abu Dhabi-based investment firm, offers its clients unique access to 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.

[1] Chimera S&P UAE Shariah ETF has two share classes. Chimera’s Accumulating Class A ETF listed on the ADX (CHAESH UH) achieved an increase of +19.65% in Net Asset Value (NAV). Chimera’s Income Class B listed on the DFM (CHAESHIN UH) achieved an increase of +19.62% in NAV.

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