Abu Dhabi-based investment management firm Chimera Capital will be listing a new exchange-traded fund (ETF) on the Abu Dhabi Securities Exchange (ADX) that will enable investors to capitalise on Turkey’s economy.
The Chimera S&P Turkey Shariah ETF is a physical, in-kind, liquid and fully fungible ETF that will track the performance of Turkey-listed, Shariah-compliant securities, according to a statement on Monday.
The new fund brings the total number of ETFs listed on stock markets in the UAE to nine.
“[The new ETF] will provide investors with easy and direct access to capitalise on Turkey’s large and highly diversified economy,” said Sherif Salem, the company’s chief investment officer for public markets.
Last July, Chimera listed two US Shariah-compliant ETFs. Two other ETFs, the Chimera S&P KSA Shariah ETF and Chimera S&P Kuwait Shariah ETF, were also listed on the ADX earlier this year.
(Reporting by Cleofe Maceda; editing by Mily Chakrabarty )