ADX lists Shariah-compliant ETF tracker

Arabian Post Staff
Abu Dhabi Securities Exchange (ADX) announced that Chimera Capital LLC’s Exchange Traded Fund (ETF) has listed on the exchange. The ETF has been designed to replicate the S&P UAE Domestic Shariah Liquid 35/20 Capped Index. The index is provided by S&P and tracks the performance of UAE-based Shariah compliant liquid equities, opening up a new and increasingly demanded asset class to investors seeking exposure to the UAE’s economy.

Chimera S&P UAE Shariah ETF currently has two share classes, including an accumulating Class A listed on the Abu Dhabi Securities Exchange (ADX) which reinvests income back into the fund at no additional expense, and a distributing Class B listed on the Dubai Financial Market (DFM) that distributes to investors any collected dividends. The ETF’s dual share class option provides investors with the added flexibility to choose between regular portfolio returns or maximizing future investment.

Originally published at Arabian Post.