Tracks the performance of the most liquid UAE stocks
Chimera Capital Ltd. lists a traded fund in Dubai Financial
Fikri rings the opening bell for trading in the Dubai market.
From the source
The CEO of Chimera Capital Ltd. »(Bloomberg Code: CHAE) in the Dubai Financial Market, under the symbol (CHAE).
The market said, in a statement, that the new fund was tracking the performance of the most liquid UAE stocks.
The duties of the fund's investment manager will be assumed by Chimera Capital Limited, from its headquarters in the Abu Dhabi Global Market, which is licensed by the Financial Services Regulatory Authority at the Abu Dhabi Global Market. Its main activities include managing collective investment funds, managing assets, and providing advice on investments and credit.
Bank of New York Mellon Fund Services (Ireland) has been appointed as the administrative service provider, registry officer, and distribution agent, and Bank of New York Mellon SA / N Dublin Branch has been appointed as the principal custodian of the fund.
The list of approved delegates for the fund includes: International Securities, the financial group "Hermes Emirates", "BH Mubasher Financial Services", and "Argaam Securities".
Fikry said, “The launch of the new fund comes on the heels of the successful listing of the (Chimera Standard & Poor's Emirates Sharia Trader) fund, during July 2020, as the fund’s assets exceeded the barrier of 50 million dirhams by last December, ranking third among the largest ETFs at Middle East and North Africa markets ».
He explained that the new fund, like the first fund, gives investors a tremendous amount of flexibility, given the possibility of choosing between the cumulative return segment or the segment with distributed return, which contributes to providing investors with unique investment opportunities in the UAE market.
In turn, the Chairman of the Board of Directors of "Chimera Capital Limited", Syed Busar Shuaib, said, "The launch of the second ETF for the company reflects its efforts to employ the various licenses it has, and thus continue its role in developing the field of asset management in the country."
New tool
“This listing is the second by (Chimera Capital) in the market within six months, which reflects the expansion of this new class of assets, which the market initiated to provide to diversify financial instruments, thus providing investors with a tool,” said Hassan Al Serkal, Chief Executive of the Dubai Financial Market. ». New to invest in a group of leading companies in the Emirates».
Follow our latest local and sports news, and the latest political and economic developments via Google news