Chimera Capital launches Kuwait ETF

Abu Dhabi-based asset manager Chimera Capital has launched what it claims is the first ETF to offer exposure to Kuwait stocks from another GCC market.

Listed on the Abu Dhabi Securities Exchange (ADX), the Chimera S&P Kuwait Sharia ETF will track the 15 most liquid sharia-compliant stocks on the Boursa Kuwait.

The fund launch was hailed by the ADX as a means of encouraging more diverse and liquid investment products.

“The listing of the Chimera S&P Kuwait Sharia ETF reflects ADX’s efforts to promote cross-border investments and provide unique growth opportunities,” said ADX managing director and chief executive Saeed Al Dhaheri.

It is the second ETF launch from Chimera Capital so far this year following the debut of the Chimera S&P KSA Shariah Compliant ETF which tracks the 30 most liquid Saudi stocks.

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