Abu Dhabi-based investment management firm, Chimera Capital, will be listing a new exchange-traded fund (ETF) on the Abu Dhabi Securities Exchange (ADX). The ETF will track the performance of Turkey's listed, Sharia-compliant securities, enabling investors to capitalise on Turkey's economy.
Chimera's latest fund will track the performance of the S&P Turkey Sharia Liquid 35/20 Capped Index. The index, provided by S&P Dow Jones Indices, tracks the performance of the most liquid Sharia-complaint stocks listed on the Borsa Istanbul.
The latest ETF launch comes on the back of Chimera’s recent listing of two US Shariah-compliant ETFs in July and two other ADX-listed ETF launches completed earlier this year – there are now nine ETFs listed on UAE stock markets, giving investors access to five different stock exchanges.