Assets of #UAE's first ETF climb above Dh50m just six months after its listing | The National

Assets of UAE's first ETF climb above Dh50m just six months after its listing | The National

Assets managed by the Chimera S&P UAE Shariah Exchange Traded Fund climbed to more than Dh50 million ($13.6m) just six months after the UAE’s first ETF started trading on the country’s two stock exchanges.

The ETF now ranks as the third-largest in the Middle East and North Africa region, Abu Dhabi-based asset management firm Chimera Capital said in a statement on Monday.

The net asset value of both share classes of the ETF increased by more than 19 per cent since listing, Chimera Capital, which manages the fund said.

“Strong performance and robust inflows have accelerated Chimera S&P UAE Shariah ETF’s rise, helping us to reach this significant milestone in such a short space of time,” Seif Fikry, chief executive of Chimera Capital, said.

“There is a growing appetite for diversified investments among GCC investors and we are enabling them to capitalise on the economic prospects of the UAE with this ETF.”