{"id":88441,"date":"2024-01-29T00:00:00","date_gmt":"2024-01-29T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/uae\/the-adx-now-has-an-indian-etf\/"},"modified":"2024-01-29T00:00:00","modified_gmt":"2024-01-29T00:00:00","slug":"the-adx-now-has-an-indian-etf","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/uae\/2024\/01\/29\/the-adx-now-has-an-indian-etf\/","title":{"rendered":"The ADX now has an Indian ETF"},"content":{"rendered":"

Lunate\u2019s India ETF is live on the ADX:<\/strong> A unit of Abu Dhabi-based Lunate<\/a>Capital<\/a> launched on Saturday the GCC region\u2019s first exchange-traded fund (ETF)<\/a> for Indian stocks, according to an ADX disclosure (pdf)<\/a>. The Chimera S&P India Shariah ETF tracks the performance of Shariah-compliant Indian stocks. <\/p>\n

Underlying constituents include big Indian names Reliance Industries, Infosys, and Tata <\/strong>Consultancy. <\/strong>Chimera\u2019s latest ETF replicates the S&P India Shariah Liquid 35\/20 Capped Index, which tracks the \u201c30 largest and most liquid Shariah-compliant Indian companies listed on the Bombay Stock Exchange.\u201d <\/p>\n

The ETF dipped 0.58% on its first day of trading to AED 3.263. <\/strong>By definition, an ETF looks to replicate the movement of the index or other basket of stocks it tracks. <\/p>\n

ADVISORS-<\/strong> Authorized participants include International Securities, Arqaam Securities, EFG Hermes UAE, BHM Capital, Al Daman Securities, and FAB Securities, according to the ADX<\/a>. BNY Mellon is the global custodian of the ETF, while our friends at HSBC Bank Middle East are the sub custodian. S&P Dow Jones Indices is the index provider. <\/p>\n

This isn\u2019t Lunate Capital\u2019s first Asian ETF: <\/strong>Chimera launched its S&P China HK Shariah<\/a>ETF<\/a>, a Shariah-compliant ETF tracking Hong Kong-listed Chinese equities, in May 2023. The ETF went live on the ADX<\/a> on 5 June.<\/p>\n

Background:<\/strong> The Lunate announced the launch of the fund earlier this month<\/a> on the back of S&P India Shariah Liquid 35\/20 Capped Index<\/a> \u2019s strong performance, which saw S&P\u2019s AED-denominated index for Indian stocks climb 16% last year, according to Bloomberg<\/a>. <\/p>\n","protected":false},"excerpt":{"rendered":"

The ETF\u2019s share price fell 0.58% on its first day of trading<\/p>\n","protected":false},"author":1,"featured_media":88442,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1547],"tags":[1360,74,753,29,7,752],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-88441","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-capital-markets","tag-abu-dhabi","tag-adx","tag-bombay-stock-exchange","tag-capital-markets","tag-enterpriseam-uae","tag-lunate-capital","wpautop","entry"],"acf":{"mongo_id":"25d62381-5bef-4e76-94c5-321fed922750","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/1\/2366.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Lunate\u2019s India ETF is live on the ADX","related_issue":[88437],"teaser":"The ETF\u2019s share price fell 0.58% on its first day of trading","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/1\/.354543e8-fb4f-48f0-b183-f202cd94288d.mp3"},"yoast_head":"\nThe ADX now has an Indian ETF - 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