Abu-Dhabi-based asset management firm and subsidiary of Chimera Investments, Chimera Capital, listed its Umbrella Exchange Traded Fund (ETF) - Chimera S&P UAE Shariah ETF - on Abu Dhabi Securities Exchange and Dubai Financial Market.

The fund replicates the S&P UAE Domestic Shariah Liquid 35/20 Capped Index, including the UAE largest stocks by market capitalization. The Class B units have been listed on the DFM under the trading symbol (CHAESHIN).

The fund’s Class B distributes to investors any collected dividends from investments in companies included in the S&P UAE Shariah Index, which tracks the performance of UAE liquid equities, enabling investors to unlock opportunities of a new and promising asset class in the UAE financial markets.

Seif Fikry, Chief Executive Officer (CEO) of Chimera Capital, commented: "The Chimera S&P UAE Shariah ETF will allow investors to capitalize on the prospects of the UAE’s economy. Currently the index has ten securities across the UAE markets, allowing investors a single access point to a balanced portfolio of Shariah compliant liquid UAE securities as per S&P Shariah Board guidelines."

The Index is structured and built by S&P and monitored by a Shariah board that meets regularly to review and rebalance the index quarterly to guarantee that the securities in the index are both liquid and Shariah compliant. 

Herbert Smith Freehills' advised Chimera Capital on the establishment of the Chimera Umbrella Fund.

(Writing by Seban Scaria; editing by Daniel Luiz)

seban.scaria@refinitiv.com

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