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Chimera Capital LLC launches ETF tracking the performance of the FTSE ADX 15 Index


Chimera Capital LLC, an Abu-Dhabi-based investment management firm and subsidiary of Chimera Investment LLC, has announced that the Initial Offer Period for its Chimera FTSE ADX 15 Exchange Traded Fund (Bloomberg: CHADX15), a liquid, fully fungible, fully tradeable and transparent ETF will begin on 21 November and end on 23 November 2022.

The Chimera FTSE ADX 15 ETF, the seventh sub-fund under the SCA-registered Chimera Umbrella Fund, will replicate the performance of the FTSE ADX 15 index (Bloomberg: FADSM15). The index, which is provided by FTSE Russell, tracks the 15 biggest and most liquid stocks listed on the ADX. The firm writes that through the Chimera FTSE ADX 15 ETF, Chimera is providing investors with transparent and cost-effective exposure to some of the most appealing ADX-listed stocks, in line with its long-term growth and value creation strategy.

The Chimera FTSE ADX 15 ETF is an Income Share Class B which is planned for listing on the ADX on 24 November 2022. Future dividends received by the fund will be distributed to investors twice a year, as available.

Syed Basar Shueb, Chairman of Chimera Investment, says: “The launch of Chimera’s tenth ETF will give investors direct access to the biggest companies in one of the fastest growing markets in the region. Chimera continues to add to the product range available to investors in the market which directly contributes to the growth and development of the UAE’s capital markets.”

Saeed Hamad Al Dhaheri, Managing Director and Chief Executive Officer of Abu Dhabi Securities Exchange says: “This is the eighth ETF from Chimera Capital to be launched on the ADX and demonstrates the success of our efforts to attract new listings to the Exchange. The introduction of the ADX and FTSE Russell’s FADX 15 Index earlier this year provides access to high growth opportunities in Abu Dhabi. As part of our strategy to diversify product offerings, we will continue to encourage the listing pipeline and roll out more innovative products and services.” 

Sherif Salem, Chief Investment Officer – Public Markets at Chimera Capital, adds: “This is the sixth ETF launched by Chimera in 2022, and the tenth fund to be rolled out in just over two years. The suite of ETFs now provides local and regional investors with access to some of the fastest-growing and most attractive stock markets in the world.”

The ETF will be managed by Chimera Capital’s onshore company, Chimera Capital LLC, which is licensed by the Securities and Commodities Authority (SCA) as an investment management company. BNY Mellon will act as the ETFs’ global custodian. Meanwhile, Authorised Participants (AP) for the fund are International Securities, EFG-Hermes, Arqaam Securities, Daman Securities, and BHM Capital.

Anthony Habis, Global Head of Client Coverage – Asset Servicing, BNY Mellon, added: “This latest ETF offering provides further opportunity for investors to access this fast-growing market. As the global custodian for all of Chimera Capital’s ETFs, we continue to support Chimera’s funds with our open architecture platform, ETF expertise and scale.”

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