Abu Dhabi-based investment management firm Chimera Capital has listed two new exchange traded funds (ETFs) which will offer UAE investors direct access to US equity markets.
The Chimera S&P US Shariah Value Exchange Traded Fund and the Chimera S&P US Shariah Growth Exchange Traded Fund are both investable via the Abu Dhabi Securities Exchange (ADX).
Chimera said its new funds were physical, in-kind, liquid and fully fungible ETFs.
The new Shariah-compliant ETFs will offer UAE investors direct access to US equity markets, further expanding Chimera’s product offering.
Managing director and chief executive officer of ADX Saeed Hamad Al Dhaheri, said the listing of Chimera Capital’s Shariah-compliant S&P US ETFs would provide investors on the exchange opportunities to diversify their holdings in an efficient and low-cost manner.
The latest launches by Chimera come on the back of two other ADX-listed, ETF listings earlier this year – the Chimera S&P KSA Shariah and Chimera S&P Kuwait Shariah ETFs.
In December, Chimera Capital closed its first venture capital fund at $75 million.
The Abu Dhabi Global Market-regulated fund manager, a wholly-owned subsidiary of Abu Dhabi-based Chimera Investment LLC, is backed by a number of regional and global limited partners, including Mubadala Investment Company.
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