Abu Dhabi's Lunate Capital Debuts Chimera J.P. Morgan Global Sukuk ETF

Lunate Capital, an Abu Dhabi-based management company, launched the Chimera J.P. Morgan Global Sukuk ETF on Monday (24th June), an exchange-traded fund (ETF or the Fund) scheduled to list on the Abu Dhabi Securities Exchange (ADX) on 8th July.

The Chimera J.P. Morgan Global Kukuk ETF will track the performance of the J.P. Morgan Global Investment Grade Sukuk Index using a sampling strategy.

The index currently includes over 70 liquid, USD-denominated Sukuk instruments across several global markets. The ETF is structured to include prominent investment-grade sovereign, quasi-sovereign, and corporate Sukuk issuers.

Investors can subscribe through six Authorised Participants as well as through the ADX eIPO investor portal from 24th June.

Abdulla Salem Alnuaimi, Group CEO of ADX, said, “We welcome the launch of the Chimera J.P. Morgan Global Sukuk ETF. Upon listing, this will be the 14th ETF on the exchange and second fixed income ETF. This ETF offers direct access to local, regional, and global fixed income markets, meeting increasing investor demand for stable investment opportunities.”

Sherif Salem, Partner and Head of Public Markets at Lunate, commented, “Lunate’s Chimera J.P. Morgan Global Sukuk ETF is a unique product that will provide clients with access to a diversified portfolio of global Shariah-compliant corporate and government Sukuks. This marks our second fixed-income ETF launch this year and the 16th on UAE stock markets.”

The ETF will be managed by Lunate Capital LLC, which is licenced by the SCA as a management company. BNY will act as the ETFs’ global custodian.

Authorised Participants for the Fund are International Securities, EFG-Hermes, Arqaam Securities, FAB Securities, Daman Securities, and BHM Capital.

Rola AlGhoul / Esraa Esmail