Abu Dhabi’s Lunate launches global sukuk ETF

Abu Dhabi’s Lunate Capital, launched the Chimera JP Morgan Global Sukuk ETF, a new exchange-traded fund (ETF) scheduled to debut on the Abu Dhabi Securities Exchange (ADX) as of July 8th.

This ETF, named the Chimera JP Morgan Global Sukuk ETF, will track the performance of the JP Morgan Global Investment Grade Sukuk Index using a sampling strategy.

The index currently comprises more than 70 liquid, USD-denominated Sukuk instruments from various global markets. The ETF is structured to include prominent investment-grade issuers of sovereign, quasi-sovereign, and corporate Sukuk.

Investors can subscribe to the ETF through six Authorised Participants and via the ADX eIPO investor portal starting from June 24th.

Lunate Capital LLC, licensed by the SCA as a management company, will manage the ETF, with BNY serving as the global custodian.

The Fund’s Authorised Participants include International Securities, EFG-Hermes, Arqaam Securities, FAB Securities, Daman Securities, and BHM Capital.

Attribution: Emirates News Agency (WAM)