Abu Dhabi [UAE] Lunate Capital, an Abu Dhabi-based management company, today launched the J.P. Chimera ETF. Morgan Global Sukuk, an exchange-traded fund (ETF or the Fund) that will be listed on the Abu Dhabi Stock Exchange (ADX). July 8th.
The Chimera JP Morgan Global Kukuk ETF will track the performance of the JP Morgan Global Investment Grade Sukuk Index using a sampling strategy.
The index currently includes more than 70 dollar-denominated liquid Sukuk instruments in various global markets. The ETF is structured to include prominent investment grade sovereign, quasi-sovereign and corporate Sukuk issuers.
Investors can subscribe through six authorized participants as well as through the ADX eIPO investor portal starting June 24.
Abdulla Salem Alnuaimi, CEO of ADX Group, said: "We welcome the launch of the Chimera J.P. Morgan Global Sukuk ETF. Once listed, this will be the 14th ETF on the exchange and the second fixed income ETF. This ETF offers access direct to local markets, regional and global fixed income markets, meeting the growing demand of investors for stable investment opportunities.
Sherif Salem, Partner and Head of Public Markets at Lunate, commented: “Lunate’s Chimera J.P. Morgan Global Sukuk ETF is a unique product that will provide clients with access to a diversified portfolio of Sharia-compliant global corporate and government Sukuk. This marks our second Fixed Income ETF Launch this year and the 16th in the UAE equity markets.”
The ETF will be managed by Lunate Capital LLC, which is licensed by the SCA as a management company. BNY will act as global custodian of the ETFs.
The authorized participants of the Fund are International Securities, EFG-Hermes, Arqaam Securities, FAB Securities, Daman Securities and BHM Capital.
The Chimera JP Morgan Global Kukuk ETF will track the performance of the JP Morgan Global Investment Grade Sukuk Index using a sampling strategy.
The index currently includes more than 70 dollar-denominated liquid Sukuk instruments in various global markets. The ETF is structured to include prominent investment grade sovereign, quasi-sovereign and corporate Sukuk issuers.
Investors can subscribe through six authorized participants as well as through the ADX eIPO investor portal starting June 24.
Abdulla Salem Alnuaimi, CEO of ADX Group, said: "We welcome the launch of the Chimera J.P. Morgan Global Sukuk ETF. Once listed, this will be the 14th ETF on the exchange and the second fixed income ETF. This ETF offers access direct to local markets, regional and global fixed income markets, meeting the growing demand of investors for stable investment opportunities.
Sherif Salem, Partner and Head of Public Markets at Lunate, commented: “Lunate’s Chimera J.P. Morgan Global Sukuk ETF is a unique product that will provide clients with access to a diversified portfolio of Sharia-compliant global corporate and government Sukuk. This marks our second Fixed Income ETF Launch this year and the 16th in the UAE equity markets.”
The ETF will be managed by Lunate Capital LLC, which is licensed by the SCA as a management company. BNY will act as global custodian of the ETFs.
The authorized participants of the Fund are International Securities, EFG-Hermes, Arqaam Securities, FAB Securities, Daman Securities and BHM Capital.
