Abu Dhabi Securities Exchange (ADX), one of the world’s exchanges with the fastest growth rate, announced on Monday that the Chimaera JP Global Sukuk ETF will be listed.
With a minimum $500 million in face amount outstanding, this new ETF gives investors access to a diversified portfolio of liquid, investment-grade Sukuks denominated in USD from corporate, quasi-sovereign, and sovereign issuers worldwide. The Shariah-compliant ETF will expose about 75 Sukuks nationally, regionally, and internationally. It is designed to track the J.P. Morgan Global IG Sukuk Index.
Group Chief Executive Officer of ADX, Abdulla Salem Alnuaimi, stated: “We are pleased to welcome the 14th ETF listed on our market, the Chimaera JP Morgan Global Sukuk ETF. In addition to expanding our selection of financial products, Lunate’s most recent offering highlights Abu Dhabi’s strategic goal of becoming a premier hub for investment and capital formation. This is the second exchange-traded fund (ETF) on ADX that tracks debt instruments, giving investors quick and simple access to these kinds of financial assets. By making global sukuks more accessible to investors, we both feed their appetite for morally-responsible, asset-backed investment options and promote the development of Islamic finance. With the addition of the new ETF, ADX’s array of comprehensive and expanding options for investors to effectively diversify and strengthen.
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