• As an authorised participant, FAB Securities will contribute to the liquidity in the exchange-traded fund (ETF) market by enabling investors to create and redeem Lunate’s ETFs

Abu Dhabi: FAB Securities has been named as the latest authorised participant (AP) for the Chimera Umbrella Fund by Lunate Capital LLC, an Abu Dhabi-based investment management firm and subsidiary of Lunate Holding RSC Limited, to provide expertise and support in simplifying access to regional and global stock markets.

As a leading brokerage firm in the UAE’s stock markets, FAB Securities will act as an AP for nine Lunate ETFs registered and regulated by the Securities and Commodities Authority (SCA) and managed by Lunate Capital LLC. FAB Securities becomes Lunate’s sixth AP, which can receive orders to create and redeem Lunate ETF units.

The nine Lunate ETFs provide investors with access to various bourses, including in the U.S., China, Saudi Arabia, Kuwait, Turkey, and Pakistan. The ETFs include conventional, Shariah-compliant, and dividend-distributing share classes that can be bought and sold like stocks.

Made up of multiple stocks, these ETFs offer investors a way to diversify their portfolios regionally and globally by simply trading a single security. The issuer of the ETF approves an AP to play the key role of creating and redeeming shares of the ETF to ensure the market price remains in line with the underlying value of the securities of the ETF.

Osama Mahmoud, Chief Executive Officer at FAB Securities, said: “The appointment of FAB Securities as an AP furthers our strategy of expanding our diverse investment products, which provide innovative solutions to our clients. We are pleased to be part of the Lunate ETF ecosystem and look forward to contributing to its success.”

Sherif Salem, Partner and Head of Public Markets at Lunate, commented: “We are pleased to have FAB Securities as our latest authorised participant for nine of Lunate’s 15 ETFs. With their expertise and strong infrastructure, FAB Securities will further ensure the smooth and accurate trading of ETFs in the primary and secondary markets. The involvement of FAB Securities signals the growing significance and evolution of the ETF market as more financial institutions recognise the opportunities and benefits presented by this dynamic investment landscape.”

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ABOUT FIRST ABU DHABI BANK (FAB)

Headquartered in the United Arab Emirates, First Abu Dhabi Bank is one of the world’s largest and safest financial institutions. With total assets in excess of AED 1.2 trillion (USD 336 billion) as of March-end ’24, FAB is the largest bank in the UAE and the second largest bank in the Gulf region. With a presence in 20 markets worldwide, it offers Investment Banking, Corporate and Commercial Banking, Consumer Banking, Private Banking and Global Markets services to its clients. FAB is listed on the Abu Dhabi Securities Exchange (ADX) and rated Aa3/AA-/AA- by Moody’s, S&P and Fitch respectively, with a stable outlook. With a clear commitment to support and deliver on its sustainability targets, FAB has an MSCI rating of ‘A’; it is also ranked among the top 10% of banks globally by Refinitiv’s ESG scores as the best performer in the MENA region. The bank also obtained a regional-best Low ESG Risk evaluation by Sustainalytics, and the highest CDP score among the UAE banking industry. For further information, visit: www.bankfab.com.

For PR and media-related queries, please contact the FAB PR and media team on PRandmedia@bankfab.com.

ABOUT LUNATE

Lunate is a new Abu Dhabi-based, partner-led, independent global alternative investment manager with more than 160 employees and $105 billion of assets under management*. Lunate invests across the entire private markets spectrum, including buyouts, growth equity, early and late-stage venture capital, private credit, real assets, and public equities and public credit.

Lunate aims to be one of the world’s leading private markets solutions providers through SMAs and multi-asset class funds, seeking to generate best-in-class risk-adjusted returns for its clients. Lunate recently established ALTÉRRA, the world’s largest private investment vehicle for climate change action, at COP28.

Lunate Capital LLC (regulated by the Securities and Commodities Authority) is a subsidiary of Lunate Holding RSC Limited.

*As of 31 March 2024 

For any media inquiries, please contact media@lunate.com.

To learn more, please visit www.lunate.com.