ID :
116609
Wed, 04/14/2010 - 14:05
Auther :
Shortlink :
https://oananews.org//node/116609
The shortlink copeid
NBAD '&' Global Fund sign MoU to launch Exchange-Traded Fund (ETF)
Abu Dhabi, April 14, 2010 (WAM)- The National Bank of Abu Dhabi (NBAD) and The Global Fund to Fight AIDS, Tuberculosis and Malaria (Global Fund) yesterday signed a memorandum of understanding (MoU) to launch an Exchange-Traded Fund (ETF) and list it on the Abu Dhabi Securities Exchange (ADX).
This agreement comes a few weeks after NBAD launched the first ETF in the Gulf Cooperation Council (GCC) region, the NBAD OneShare Dow Jones UAE 25 ETF, which was listed on ADX on 25 March, 2010. The document signed follows MoU between the Global Fund and Dow Jones Indexes last month to explore the creation of a series of indexes that could be licensed as the basis for investible products. It is envisioned that the flagship of this index series would be a blue-chip index to be called the Dow Jones Global Fund 50 Index.
The Global Fund will receive a portion of the license and management fees generated by the ETF for financing programs to fight AIDS, Tuberculosis and Malaria.
This agreement comes a few weeks after NBAD launched the first ETF in the Gulf Cooperation Council (GCC) region, the NBAD OneShare Dow Jones UAE 25 ETF, which was listed on ADX on 25 March, 2010. The document signed follows MoU between the Global Fund and Dow Jones Indexes last month to explore the creation of a series of indexes that could be licensed as the basis for investible products. It is envisioned that the flagship of this index series would be a blue-chip index to be called the Dow Jones Global Fund 50 Index.
The Global Fund will receive a portion of the license and management fees generated by the ETF for financing programs to fight AIDS, Tuberculosis and Malaria.
