Alternative Investments/ESG: Chimera Capital Launches Shariah Compliant, US Equity ETFs On Abu Dhabi Exchange

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Abu Dhabi-based Chimera Capital is a subsidiary of Chimera Investment.

Investors looking for an exposure to US equities that is also compliant with Shariah laws can now invest in two ETFs to be listed on the Abu Dhabi Exchange with a focus on value and growth respectively. These new funds, which are physical, in-kind, liquid and fully fungible, will offer investors direct access to the US stock markets. (Chimera Investment)

Chimera S&P US Shariah Value Exchange Traded Fund

This ETF will track the performance of the S&P High Yield Dividend Aristocrats U.S. Shariah Top 30 35/20 Capped Index (Custom). The index, which is provided by S&P Dow Jones Indices, is designed to measure the performance of thirty of the biggest and most liquid Shariahcompliant companies within the S&P Composite 1500 that have followed a managed-dividend policy of consistently increasing dividends every year for at least 20 years.

All dividends collected by the fund would be distributed to the ETF investors.

Chimera S&P US Shariah Growth Exchange Traded Fund

This ETF will track the performance of the S&P 500 U.S. Shariah Top 30 35/20 Capped Index (Custom). The index, which is also provided by S&P Dow Jones Indices, tracks the performance of thirty of the biggest and most liquid Shariah-compliant constituents of the S&P 500, the leading benchmark for the US equity market.

The ETF will reinvest income back into the fund at no additional expenses to the unit holders.

Fundspeak

Basar Shueb, Chairman of Chimera Capital, commented: “The launch of the two US Shariah-compliant ETFs adds to Chimera Capital’s suite of now eight ETFs that have exceeded AED 420 million in AUM within two years. The latest two launches now provide investors with direct access to the biggest and most active stock market in the world, underlining Chimera’s commitment to playing an active role in deepening and expanding the UAE’s capital markets landscape.”

Related Story: Shariah Compliant UAE Equity ETF From Chimera Capital

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