Afkar S&P UAE exchange traded fund hit a new volume record yesterday

Our friend Seif Fikry’s UCITS-compliant Afkar S&P UAE exchange traded fund hit a new volume record yesterday with 1.14 mn share changing hands. UBC was the executing broker and the transaction for clients including retail investors and family offices, Gulf News reports. “It’s a huge day for us. Today’s achievement was a clear example and is a testimony of a perfect environment for ETF’s in the UAE,” Fikry said, noting that he’s now working to bring in a second market maker. The fund is the first ETF in the Emirates launched under new UAE regulations for the industry.