News

Chimera launches sharia-compliant ETF

Chimera Capital, the Abu Dhabi-based asset manager, has launched what it claims is the first ETF in the UAE to track a shariah-compliant index. The Chimera S&P UAE Shariah ETF is a sub-fund of the Chimera Umbrella Fund, which was launched under the UAE’s Securities and Commodities Authority’s Fund Regime. The ETF has been designed to replicate the S&P UAE Domestic Shariah Liquid 35/20 Capped Index which tracks the performance of UAE-based shariah-compliant equities. Class A shares will be listed on the Abu Dhabi Exchange with gains reinvested into the fund while class B shares will be listed on the Dubai Financial Market with dividends distributed to investors. BNY Mellon has been given the global custody mandate for the fund while HSBC has been appointed as the local sub-custodian. The US bank opened an Abu Dhabi office in December 2019 in a bid to grow its presence in the Mena market. © 2020 funds global mena

Opinion

Change brings progress and long-term opportunities in Saudi Arabia

Saudi_ArabiaNaomi Waistell, an emerging markets fund manager at Polar Capital, analyses change in Saudi Arabia – a hydrocarbon country with green ambitions and which is set on a major economic...

New income streams

Romil_PatelAlthough it is awash with oil and, therefore, capital, the Gulf region is at a critical juncture: it must diversify its...

Executive Interviews

INTERVIEW: ‘Financing is the blood of Iran’s economy’

Amid a fresh wave of American sanctions, Romil Patel spoke to Meysam Hamedi, director of financial markets and instruments at Iran’s Securities & Exchange Organization (SEO).

INTERVIEW: Totally mega

In 2016, global consulting firm PWC forecast the emergence of five global ‘megatrends’ in the next two decades. Stephen Anderson, its Middle East clients and markets leader, talks about their...

INTERVIEW: Protecting the investment

Rasmala’s trade finance fund recently passed $100 million in assets. Doug Bitcon, head of credit strategies, explains why he has to be hands-on.

EXECUTIVE INTERVIEW: A natural interest in the topic

Since 2016, Guillermo Ortiz has been a chairman of Latin America’s BTG Pactual. The former central banker of Mexico talks to Nick Fitzpatrick.

Roundtables

Middle East Investor Roundtable 2020: Dimensions of diversification

Investors in the Middle East consider the tools that will be needed to navigate the Covid-19 crisis, the continued appetite for dividend and why it’s all about tech. Chaired by Romil Patel.

South Africa asset management roundtable: Global rebound on ice

Experts discuss the investment implications of the coronavirus pandemic, a delayed rebound in global growth and dealing with South Africa’s energy issues head on. Chaired by Romil Patel in Cape Town.

South African roundtable: Taking the bull by the horns

Our panel discusses Chinese investment in Africa, financial institutions’ contribution to economic sustainability and regulatory concerns. Chaired by Romil Patel in Cape Town.

ROUNDTABLE: Hooked to the global caravan

With the MENA region at a tipping point, our panellists talk about economic diversification, the impact of regulation and the delayed Saudi Aramco listing. Chaired by Romil Patel in Dubai.