Lunate Capital Unveils New Chimera S&P India Shariah ETF on Abu Dhabi Stock Exchange

Lunate Capital, an asset management firm headquartered in Abu Dhabi, has declared the initiation of its Chimera S&P India Shariah exchange-traded fund (ETF).

This move promises to provide investors on the Abu Dhabi Stock Exchange (ADX) a direct gateway to the Bombay Stock Exchange (BSE), which stands as the world's fifth-largest stock market and a rapidly expanding global economy, as detailed in Lunate's recent Instagram announcement.

Sources from a Bloomberg report reveal that this newly introduced ETF will encompass prominent Indian large-cap entities such as Reliance Industries, Infosys, and Tata Consultancy Services.

Prospective investors should mark their calendars as the subscription window for this ETF is slated to span from January 12 to January 17, 2024.

Lunate Capital is not a newcomer to the financial arena. By September 2023, the firm is projected to debut with an impressive portfolio boasting over $50 billion in Assets under Management (AuM), solidifying its position as a significant player in the MENA (Middle East and North Africa) region.

The inception of Lunate Capital emerges from a collaborative endeavor aiming to establish a robust and comprehensive investment manager rooted in Abu Dhabi yet catering to global market needs.

Furthermore, it's noteworthy that Chimera is affiliated with the Royal Group, the private investment entity of UAE national security adviser Sheikh Tahnoun bin Zayed Al Nahyan.

This association underscores the Royal Group's dominance, given its majority ownership of the UAE's most substantial listed company, the International Holding Company.

Source: Zawya