Bringing you live news and features since 2006 

Dow Jones Michael A

Dow Jones index to underlie first ETF in United Arab Emirates

RELATED TOPICS​

Dow Jones Indexes has launched the Dow Jones UAE 25 Index, which measures the performance of the 25 of the largest and most liquid equity securities trading in the United Arab Emirates.

The index has been licensed to National Bank of Abu Dhabi and will underlie the first exchange-traded fund in the UAE.

The NBAD OneShare Dow Jones UAE 25 ETF is expected to be listed at the Abu Dhabi Stock Exchange at the end of March.

"Since the Dow Jones UAE 25 Index combines securities traded on the three local stock exchanges it reflects the broad view of the UAE in a single index," says Michael A. Petronella (pictured), president, Dow Jones Indexes. "The index is a transparent and liquid vehicle that provides passive exposure to this attractive market."

"We are very keen on working in partnership with the best in class and we are delighted to be working with Dow Jones Indexes, a leading global index provider, in providing the index for this new investment fund to meet the ever expanding demands of investors in the region," adds Alan Durrant, chief investment officer, asset management group, National Bank of Abu Dhabi. "

The selection universe of the Dow Jones UAE 25 Index consists of equity securities traded on the stock exchanges of the UAE, excluding foreign-listed stocks. Represented exchanges are the Dubai Financial Market, Abu Dhabi Securities Exchange and Nasdaq Dubai. To be eligible for the index, securities must have a minimum average daily trading volume of USD500,000. Stocks in the index universe are ranked by free-float market capitalization and then by 12-month average daily domestic currency trading volume.

As of 26 February, the top five components in the index by free-float market capitalisation are Emirates Telecommunications, First Gulf Bank PJSC, Emaar Properties PJSC, National Bank of Abu Dhabi PJSC and Dubai Islamic Bank PJSC.

Latest News

Figment Europe, a provider of institutional staking infrastructure, writes that it is solidifying its presence in the heart of Europe’s..
Saving and investing app, Moneybox, has doubled the number of ETFs available on the platform, in the light of ‘growing..
Global X ETFs has announced the appointment of Ryan O'Connor as its Chief Executive Officer effective as of April 8, 2024. ..
Value-driven structured credit investing firm, Angel Oak Capital Advisors, LLC, has announced the completed conversions of two of its mutual..

Related Articles

Sal Esposito, Zacks Investment Management
Zacks Investment Management started doing investment research in 1978 and in 1992 started its investment management arm, initially with SMAs...
Jeremy Senderowicz, Vedder Price
Jeremy Senderowicz, a member of the Investment Services Group at law firm Vedder Price, has witnessed a steady upswing in...
Graham MacKenzie, Toronto Stock Exchange
The evolution of ETFs has been a multi-decade experience for Toronto Stock Exchange says Graham MacKenzie, managing director, Exchange Traded...
Frank Koudelka, State Street Global Services
ETF data provider and ETF Express data partner, Trackinsight, has published its Global ETF Survey 2024 Report: ‘50+ Charts on...
Subscribe to the ETF Express newsletter

Subscribe for access to our weekly newsletter, newsletter archive, updates on the site and exclusive email content.

Marketing by