Bangalore Investment：Indian stocks get first ETF in Gulf region as UAE deepens ties

Gulf investors are poised to get their first regional exchange-traded fund tracking Indian equities. Lunate Capital LLC is launching the Chimera S&P India Shariah ETF, replicating the performance of the S&P India Shariah Liquid 35/20 Capped Index. The fund will track the performance of Shariah-compliant Indian equities listed on the Bombay Stock Exchange.

Indian stocks climbed for an eighth year in 2023 as the country continues to be one of the most favored markets in AsiaBangalore Investment. The gains were supported by the fastest growth among the world’s major economies and persistent investor concerns over the outlook for India’s biggest emerging-market rival, China. An informal survey conducted by Bloomberg News showed Indian equities are poised to rise further in 2024.

The S&P India Shariah Liquid 35/20 Capped Index rose 16% last year, although it couldn’t keep pace with the Nifty 50 Index’s 20% gainGuoabong Stock. The new ETF is set to include large-cap Indian stocks like ., ., and ., and is open for investor subscription from Jan. 12 to JanVaranasi Wealth Management. 17.

There were an estimated 3.5 million Indian expatriates in the United Arab Emirates as of 2021, comprising about 30% of the Gulf country’s population. Bloomberg has reported the UAE is considering investing as much as $50 billion in India, its second-largest trading partnerMumbai Investment. As part of the push, entities overseen by Sheikh Tahnoon bin Zayed Al Nahyan, a member of Abu Dhabi’s ruling family, have held early-stage talks on investing billions of dollars in India.

Along with other portions of Sheikh Tahnoon’s sprawling empire, Lunate and Chimera Investments will be folded into a new firm called 2PointZeroVaranasi Investment. That firm will be transfered to Abu Dhabi’s $244 billion International Holding Co., which is also chaired by Sheikh Tahnoon — one of Abu Dhabi’s two deputy rulers, the UAE’s national security adviser and brother to its president.

Pune Wealth Management