Abu Dhabi-based investment firm Lunet Capital has announced the launch of an exchange-traded fund tracking Japanese stocks that will be listed on the Abu Dhabi Stock Exchange.
The company indicated in a statement today, Thursday, that the Chimera Standard & Poor's Japan Justus ETF is a cash and in-kind exchange-traded fund, and its units are fully exchangeable.
She pointed out that this fund will be listed on the Abu Dhabi Securities Market on May 29.
The company said the fund, the third exchange-traded fund it has launched this year, will offer investment in the 30 largest and most liquid Japanese stocks listed on the Tokyo Stock Exchange, including Toyota Motor Corp and Sony Corp.
Lunett manages $105 billion in assets.
The company's investments, which include last month's announcement of a 40 percent stake in the entity that leases ADNOC's oil pipelines, highlight how Abu Dhabi is building a national company in alternative investments.
In January, Lunet launched an exchange-traded fund that tracks the performance of Mumbai-listed Shariah-compliant Indian stocks, and in March it partnered with JP Morgan to develop the first bond-tracking ETF in the UAE.
“The ETF is in line with our commitment at ADX to provide a diversified and sustainable trading system that supports the growth and development of the financial sector in Abu Dhabi and enhances the emirate’s drive to diversify the economy and attract more investments to its financial market,” said Abdullah Salem Al Nuaimi, CEO of ADX, in the statement.
Lunett explained that investors can subscribe to the fund during the period from May 16 to 23.
