Seif Fikry, Chief Executive Officer (CEO) of Chimera Capital Limited, an Abu-Dhabi-based asset management firm and subsidiary of Chimera Investments LLC, today rang the Dubai Financial Market (DFM) market-opening bell to celebrate the listing of Chimera S&P UAE UCITS ETF (Bloomberg: CHAE), on the DFM under the trading symbol (CHAE).

The liquid, fully fungible, fully tradeable and transparent fund has been designed to track the performance of the S&P UAE BMI Liquid 20/35 Capped Index (Bloomberg: SPUAECAN), an index provided by S&P Dow Jones Indices which seeks to measure the performance of liquid UAE listed stocks. The index includes the largest stocks by capitalization in the United Arab Emirates, providing exposure to the UAE economy.

Mr. Hassan Al Serkal, CEO of DFM and Mr. Hamed Ali, CEO of Nasdaq Dubai and Deputy CEO of DFM as well as senior representatives from firms collaborating with Chimera Capital in listing the new fund have attended the bell ringing ceremony.

The DFM-listed accumulating Class A of the Chimera S&P UAE UCITS ETF will reinvest income back into the fund at no additional expenses to the unit holders.

The ETF is a sub-fund of the Chimera UCITS ICAV, an open-ended Irish Collective Asset-management Vehicle (ICAV) umbrella fund with FundRock Management Company S.A. as its appointed manager. Both the sub-fund and ICAV are authorized and regulated by the Central Bank of Ireland.

The Investment Manager of the Chimera S&P UAE UCITS ETF will be Chimera Capital Limited, a company based in the Abu Dhabi Global Market (ADGM) and duly regulated by the ADGM Financial Services Regulatory Authority (FSRA), whose principal activities include managing collective investment funds and assets as well as advising on investments or credit. Bank of New York Mellon Fund Services (Ireland) Designated Activity Company has been appointed as the Administrator, Registrar and Transfer Agent of the ICAV. Meanwhile, the Bank of New York Mellon SA/NV Dublin branch will act as the depositary to the ICAV. Authorized Participants for the fund include International Securities LLC, EFG Hermes UAE LLC, BH Mubasher Financial Services PSC and Arqaam Securities LLC.

Commenting on this, Mr. Syed Basar Shueb, the Chairman of Chimera Capital Limited said: “We are excited to bring this new UCITS-regulated product to market, which will give investors further access to the increasingly appealing UAE economy. This second Chimera ETF launch once again demonstrates our ability to leverage our multiple licenses under different fund regimes to roll out various investment options, in turn continuing to play an active role in deepening and developing the country’s asset management space.”

Adding to this, Hassan Al Serkal, CEO of DFM, said: “We are delighted to welcome the listing of Chimera Capital’s “Chimera S&P UAE UCITS ETF” on DFM. This second of its kind fund listing by Chimera Capital on DFM in the time span of six months only clearly underlines the rapid expansion of this new asset class and further strengthens DFM’s strategy to diversify product offering, providing investors with a new financial instrument to invest in leading companies in the UAE. We highly cherish Chimera Capital’s efforts and leading role in developing this sector in the UAE, while employing DFM’s world-class infrastructure as well as its favorable and attractive regulations for the listing and trading of ETFs and other asset classes given the growing demand from market participants for new products and asset classes.”

Seif Fikry, CEO, added: “The ETF’s launch follows the introduction of our first ETF, the Chimera S&P UAE Shariah ETF, back in July, and which has surpassed AED50 million in AUM as of December 2020, to become the third largest equity ETF listed in MENA markets. As with Chimera’s first ETF, the new ETF provides investors with the added flexibility that comes from being able to choose between distributing and accumulating share classes, a feature which will make the fund attractive to different investor types.”

Anthony Habis, Head of Middle East and Africa at BNY Mellon, said: “It is an exciting time for the asset class, with the growth of the ETF industry at an all-time high in the region. We are honored that Chimera has chosen BNY Mellon to support its new Chimera S&P UAE UCITS ETF fund with our open architecture platform, ETF expertise and scale.”

Marius Baumann, Global Head of Custom Indices at S&P Dow Jones Indices, commented: “We are pleased to support Chimera Capital Limited in the launch of the ETF tracking performance of liquid UAE listed stocks. Through S&P Dow Jones Indices’ innovative solutions, our clients are able to capture investment opportunities.”

Chimera Capital Limited is a private limited company incorporated and licensed in the ADGM, the International Financial Centre in the UAE capital, and regulated by the FSRA.