Chimera Capital launches two US Shariah-compliant exchange traded funds

Chimera Capital, an Abu-Dhabi-based investment management firm and subsidiary of Chimera Investment, announced today the launch of the Chimera S&P US Shariah Value Exchange Traded Fund (Bloomberg: CHUSSHINV) and the Chimera S&P US Shariah Growth Exchange Traded Fund (Bloomberg: CHUSSHG). The two funds are physical, in-kind, liquid and fully fungible exchange-traded funds (ETF).

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.”

Saeed Hamad Al Dhaheri, Managing Director and Chief Executive Officer of Abu Dhabi Securities Exchange: “The listing of Chimera Capital’s Shariah-compliant S&P US ETFs will provide investors on the ADX with new opportunities to diversify their holdings in an efficient and low-cost manner and has made our exchange home to the largest number of ETFs in the region. As part of our strategy to enhance market liquidity and attract more international investments, we will continue to encourage new listings and roll out products and services that meet the needs of market participants.”