Tap into UAE blue-chip stocks the 'ETF' way as Chimera closes second fund | Markets – Gulf News
Want to get into UAE stock markets, but don’t know which blue-chips to pick? Try an ETF (Exchange Traded Fund), which have in the global marketplace been the go-to method for investors to access everything from stocks to gold.
Now, investors get an opportunity to access some of the most heavily traded UAE stocks via an ETF – the Chimera S&P UAE UCITS ETF that “replicates and tracks the performance of the S&P UAE BMI Liquid 30/35 Index”. This would mean investors get to track and share the fortunes of the UAE’s leading real estate and banking stocks, which are highly liquid. Plus, there’s an emerging group of stocks that investors are clambering onto in recent months, such as IHC, the Abu Dhabi based holding company for diversified businesses.
The index comprises the “largest and most liquid stocks” listed on ADX, which gives “investors a broad exposure, across all sectors, to the UAE markets”.
The ETF comes from Chimera Capital Ltd.. Operating out of Abu Dhabi Global Market. But why an ETF specifically? The company had launched its first UAE-focussed ETF - Chimera S&P UAE Shariah ETF - in July last, which pulled in Dh50 million in the first six months.
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