- Abu Dhabi-based Lunate Capital LLC is set to launch an exchange-traded fund (ETF) tracking global Islamic bonds, aiming to meet the rising demand for stable investment opportunities in the region. The Chimera JPMorgan Global Sukuk ETF will list on the Abu Dhabi Securities Exchange on July 8, replicating the performance of the J.P. Morgan Global Investment Grade Sukuk Index, which features over 70 liquid, US dollar-denominated sukuk instruments.
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Lunate Capital, a subsidiary of Lunate Holding RSC Ltd., manages $105 billion through its various entities. The company is part of 2PointZero, a unit of International Holding Co., chaired by Sheikh Tahnoon bin Zayed Al Nahyan, one of Abu Dhabi’s deputy rulers and the UAE’s national security adviser. Lunate's client base includes Abu Dhabi’s sovereign wealth fund ADQ. This new fund will be Lunate’s 16th ETF listed in the UAE, according to Sherif Salem, head of public markets. BNY will act as the global custodian, with International Securities, EFG-Hermes, Arqaam Securities, FAB Securities, Daman Securities, and BHM Capital as authorized participants. Investor subscriptions start on Monday.
السبب في أهمية الخبر
Earlier this year, the firm launched the first ETF tracking UAE bonds. The Chimera JPMorgan Global Sukuk ETF strengthens Abu Dhabi’s position as a financial hub and reflects the growing interest in ETFs as versatile investment tools, noted Abdulla Salem Alnuaimi, CEO of Abu Dhabi Securities Exchange.
