Alternative Investments/ESG: Chimera Capital Launches Shariah Turkish Equity ETF
Chimera Capital is an Abu-Dhabi-based investment management firm and subsidiary of Chimera Investment
The Chimera S&P Turkey Shariah ETF seeks to invest in the most liquid Shariah-complaint stocks listed on the Borsa Istanbul. Launched by Chimera Capital, an Abu-Dhabi-based investment management firm and subsidiary of Chimera Investment, the ETF tracks the performance of the S&P Turkey Shariah Liquid 35/20 Capped Index (Bloomberg: SPTSLCAP), provided by S&P Dow Jones Indices. (ETF Express)
The fund is a physical, in-kind, liquid, fully fungible, Income Share Class B ETF that comes with an expense ratio of 1%.
It invests in firms within the index that are aligned with Islamic principles.
Sherif Salem, Chief Investment Officer – Public Markets at Chimera Capital, says: “The Chimera S&P Turkey Shariah ETF will provide investors with easy and direct access to capitalise on Turkey’s large and highly diversified economy. With the latest launch, there are now nine ETFs listed on UAE stock markets, giving investors access to five different stock exchanges.”
Marius Baumann, Global Head of Custom Indices at S&P Dow Jones Indices, says: “S&P Dow Jones Indices is pleased that Chimera Capital has selected and licensed the S&P Turkey Shariah Liquid 35/20 Capped Index as the reference benchmark for its new fund. S&P DJI is proud to offer independently calculated and transparent indices that represent and measure different parts of the global markets. This particular index provides asset managers such as Chimera and their end clients the ability to access, gain exposures to and insights on the performance of companies listed in the Borsa Istanbul.”
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