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Abu Dhabi-based alternative investor Lunate has announced the launch of a new Germany-focused exchange traded fund (ETF), which it says will be the first of its kind in the GCC.
The Chimera S&P Germany UCITS ETF will track the S&P Germany BMI Liquid 35/20 Capped Index, which includes the top 30 most liquid companies listed in Germany, Lunate said, and will be listed on Abu Dhabi Securities Exchange (ADX) on 26thSeptember.
The index, which includes Siemens and Mercedes-Benz, will offer retail investors in the UAE exposure to Germany’s diversified and robust economy, the largest in Europe and the third largest by nominal GDP globally, the alternative investor added.
Sherif Salem, partner and head of public markets at Lunate, said the launch complements Lunate’s existing 16 ETFs listed on UAE stock markets across developed and emerging markets.
BNY is acting as administrator, registrar, transfer agent and depositary.
The new 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.
Authorised participants (APs) for the ETF include International Securities, Arqaam Securities, EFG-Hermes and BHM Capital.
Lunate Capital Limited, based in Abu Dhabi Global Market (ADGM) has $105 billion of assets under management.
(Reporting by Imogen Lillywhite; editing by Daniel Luiz)
