Chimera Capital LLC, an Abu-Dhabi-based asset management firm and subsidiary of Chimera Investments LLC, has launched the Chimera S&P UAE Shariah ETF, a physical, in-kind, liquid and fully fungible ETF. Under the UAE’s Securities and Commodities Authority’s (SCA) fund regime, Chimera Umbrella Fund – the first SCA umbrella fund to be launched in the UAE – will launch its first sub-fund tracking a Shariah compliant index in conjunction with S&P Dow Jones Indices.
HSBC will act as local custodian, while BNY Mellon will act as the ETF’s global custodian. Authorized Participants for the fund include EFG Hermes UAE Limited, Shuaa Securities, and BH Mubasher.