Lunate expands public markets offering with launch of Chimera iBoxx US Treasury Bill ETF
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Chimera Capital Daman Securities FAB Securities BHM Capital ADX EFG Holding Arqaam Securitie Lunate Holding Intl Securities S&P DOW JONES INDICES
The ETF will be listed on the Abu Dhabi Securities Exchange
Abu Dhabi: Lunate Capital LLC ('Lunate'), an Abu Dhabi-based global investment management firm regulated by the Securities & Commodities Authority (SCA), and a subsidiary of Lunate Holding RSC Limited, announced the launch of the Chimera iBoxx US Treasury Bill ETF (Bloomberg: USTBILL). The exchange traded fund ('ETF' or the 'Fund') is scheduled to list on the Abu Dhabi Securities Exchange ('ADX') on 20 February.
The Chimera iBoxx US Treasury Bill ETF will track the iBoxx USD Treasury Bills Mid Price Index which is designed to reflect the performance of USD-denominated US Treasury bills. These short-term debt securities are issued by the US Government and are generally considered among the safest investments globally, due to their backing by the US Government.
The ETF offers UAE-based investors unique access to the world's largest economy through a portfolio of US Treasury bills, without the need to purchase individual securities while also providing a quarterly distribution of dividends. Investors can subscribe through their brokerage accounts.
Sherif Salem, Partner & Head of Public Markets at Lunate, said: 'The Chimera iBoxx US Treasury Bill ETF is a valuable addition to our expanding lineup of investment products and solutions, designed to enhance investor access to global markets and diversified asset classes. With exposure to 10 developed and emerging markets and a suite of three fixed-income ETFs, we continue to provide investors with innovative solutions that cater to different investment objectives. This ETF leverages the strength of the US economy, giving UAE investors access to one of the world's most secure asset classes. With this launch, our ETF lineup on UAE stock exchanges grows to eighteen, providing investors with greater flexibility and return potential.'
Abdulla Salem Alnuaimi, Group Chief Executive Officer of ADX, said: 'We are pleased to welcome the Chimera iBoxx US Treasury Bill ETF to Abu Dhabi Securities Exchange. As the first of its kind in the region and the 16th ETF listed on ADX, this fund will further expand the range of investment opportunities available to our investors and cement ADX's position as the top regional ETF exchange. As our strategic partner, Lunate Capital continues to play a pivotal role in developing the regional ETF market, and this new fund offers a simple, transparent, cost-effective and convenient access the U.S. Treasury bill market. At ADX, we remain focused on deepening the market, increasing liquidity and developing innovative financial products that cater to the evolving needs of regional and global investors, reinforcing Abu Dhabi's position as a leading global financial hub.'
Hani Kablawi, Head of International at BNY, said: 'In collaboration with Lunate Capital, BNY is delighted to provide custody services for its new Chimera iBoxx US Treasury Bill ETF.'
Jennifer Schnabl, Head of Fixed Income Indices at S&P Dow Jones Indices, commented: "S&P Dow Jones Indices is pleased to continue our collaboration with Lunate by licensing this index for use with the launch of their new exchange-traded fund. The index serves as a valuable tool for measuring the performance of US dollar-denominated Treasury bills and represents a significant addition to supporting innovative investment solutions that enhance investor access to global markets.'
The ETF will be managed by Lunate Capital LLC, which is licensed by the SCA as a management company. BNY will act as the ETFs' global custodian. Authorized Participants for the Fund are International Securities, EFG-Hermes, Arqaam Securities, FAB Securities, Daman Securities, and BHM Capital. iBoxx is a family of fixed-income indices developed and maintained by S&P Dow Jones Indices (S&P DJI).
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