ID :
113420
Thu, 03/25/2010 - 14:20
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Shortlink :
https://oananews.org//node/113420
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NBAD '&' ADX launch and list first ETF in the region
Abu Dhabi, Mar 25, 2010 (WAM)- Abu Dhabi,The National Bank of Abu Dhabi (NBAD) and Abu Dhabi Securities Exchange (ADX) today announced the launch and listing of the first Exchange Traded Fund (ETF) in the Gulf region.
The new fund, NBAD OneShare Dow Jones UAE 25 ETF, will be listed on ADX from Thursday, March 25th, 2010, inaugurating the new ETF market in Abu Dhabi.
The new fund will follow the performance of the ‘Dow Jones UAE 25 Total Return Index' and provide investors with exposure to 25 blue-chip companies from across the UAE. Meanwhile, listing the ETF at ADX, will offer investors the opportunity to buy and sell as the case is with any other share.
Michael Tomalin, the Group Chief Executive of NBAD, said "I am proud of the fact that NBAD is the first bank to launch an ETF in the region. This once again illustrates our progressive approach to better serve our customers."
Tom Healy, ADX's Chief Executive, welcomed this major milestone in the development of the Abu Dhabi and regional capital markets. He said that since the introduction of the first ETF in the United States in 1993, ETFs have opened a whole new landscape of investment opportunities for both institutional and private investors, both local and foreign.
The new fund, NBAD OneShare Dow Jones UAE 25 ETF, will be listed on ADX from Thursday, March 25th, 2010, inaugurating the new ETF market in Abu Dhabi.
The new fund will follow the performance of the ‘Dow Jones UAE 25 Total Return Index' and provide investors with exposure to 25 blue-chip companies from across the UAE. Meanwhile, listing the ETF at ADX, will offer investors the opportunity to buy and sell as the case is with any other share.
Michael Tomalin, the Group Chief Executive of NBAD, said "I am proud of the fact that NBAD is the first bank to launch an ETF in the region. This once again illustrates our progressive approach to better serve our customers."
Tom Healy, ADX's Chief Executive, welcomed this major milestone in the development of the Abu Dhabi and regional capital markets. He said that since the introduction of the first ETF in the United States in 1993, ETFs have opened a whole new landscape of investment opportunities for both institutional and private investors, both local and foreign.
