Gulf Countries

Lunit Capital Limited launches the JP Morgan Chimera Fund to support sovereign bond investments in the Abu Dhabi Financial Market

Luminet Capital Management Limited, the licensed investment manager by the Financial Services Regulatory Authority of Abu Dhabi Global Market, a subsidiary of Luminet Holdings Restricted Limited, has launched the Chimera GB Morgan UAE Yield Estes Traded Fund.

This fund, the first of its kind in the UAE and the region, is set to be listed on the Abu Dhabi Securities Exchange.

The fund tracks the performance of the GB Morgan MSCI UAE Investment Grade Index and includes UAE-denominated bonds that are both liquid and US dollar-denominated.

It encompasses bonds issued by sovereign, quasi-sovereign, and corporate entities in the United Arab Emirates with investment-grade ratings, with issuance amounts not less than $500 million, offering excellent opportunities for investment in the UAE bond market.

The fund will be listed on the Abu Dhabi Securities Exchange on March 26 and fully complies with the “UCITS” rules, including portfolio diversification requirements.

Abdullah Salem Al Nuaimi, CEO of Abu Dhabi Securities Exchange, noted that the fund provides investors with a comprehensive investment opportunity with low risks and guaranteed returns, enhancing their participation in the economic growth of the United Arab Emirates.

Sherif Salem, Partner and Director of Public Markets Management at Luminet, explained that the fund offers outstanding investment opportunities in the UAE market while providing liquidity and diversified investment opportunities, contributing to the enhancement and diversification of the local economy.

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