Abu Dhabi stock exchange traded fund managed by “Shimera”

The Emirate of Abu Dhabi is preparing to launch the first exchange-traded investment fund “Chimera FTSE Abu Dhabi Securities 15” to track the emirate’s world-leading shares, which will be managed by “Chimera Capital”.
The fund includes the 15 largest companies listed on the Abu Dhabi Stock Exchange, and follows the “Fadex 15” index, which has risen by 7.6% since its inception in March 2022, outperforming developed and emerging markets during that period.

The broader and standard “FADEX 15” general index rose by 25% this year in dollar terms, which is the highest among 92 global benchmarks tracked by Bloomberg, other than those in Turkey and Lebanon.
The boom in listings and high oil prices led to a revival of the market, despite the fact that the increase of 168% by “Al Alamiah Holding” represented a large part of this rise.
The fund is scheduled to include “International Holdings” and “First Abu Dhabi Bank”, along with the Emirates Telecommunications Group Company, and “Alpha Abu Dhabi Holding”.
While the ETF industry in the Middle East is still in its infancy, the new Chimera Capital fund will bring the company’s total to 10, and it has funds that passively track stocks listed in countries including Saudi Arabia and the United States.
The initial offering period for the group’s latest fund is scheduled to run from November 21 to 23, with a subscription price of 3.67 dirhams ($1) per unit. The listing is expected to take place on November 24