Norton Rose Fulbright advises on establishment of ADX-listed Chimera S&P India Shariah ETF

Global law firm Norton Rose Fulbright has advised Lunate Capital LLC on the establishment of the Chimera S&P India Shariah ETF, the region’s first exchange-traded fund (ETF) tracking Shariah-compliant Indian equities.

The Chimera S&P India Shariah ETF, a physical, in-kind, liquid and fully fungible ETF, managed by Abu Dhabi-based alternative investment manager Lunate Capital LLC, was listed on the Abu Dhabi Securities Exchange (ADX) on 26 January 2024.

ADX is one of the fastest growing exchanges in the world, having established itself as the most active and liquid ETF marketplace in the MENA region. The addition of the Chimera S&P India Shariah ETF further strengthens ADX’s position by offering investors in the UAE direct access to the Indian market.

The cross-border Norton Rose Fulbright team advising Lunate Capital LLC on the establishment of the Chimera S&P India Shariah ETF was led by Senior Partner Zubair Mir and Partner Geoffroy Hermanns, supported by Associate Shakir Mogalia.

Zubair Mir commented:

“It was a pleasure to support Lunate Capital LLC on the establishment of this innovative new ETF. The new first-of-its-kind fund will offer exciting investment opportunities for the region and is a substantial addition to the Abu Dhabi Securities Exchange by linking UAE-based investors with the thriving Indian market.”

Norton Rose Fulbright’s global investment funds team provides trusted counsel to international and domestic asset managers, financial institutions of every size, institutional investors, and pension funds on the full spectrum of investment law, including the latest innovations, market practices and trends. The firm’s lawyers have deep experience in mutual funds, ETFs, private equity, hedge funds, venture capital funds and alternative fund matters around the world.