By Soren Billing
ADX's deputy chief exec says he wants to bring exchange traded funds to investors.
Abu Dhabi Securities Exchange (ADX) on Thursday reaffirmed its strategy to list Exchange Traded Funds (ETFs).“ETFs have proved themselves to be popular with both retail and institutional investors and we would like to give investors the opportunity to trade ETFs on ADX,” Rashed Al Baloushi, deputy chief executive of ADX, said at the Financial Brokerage in the Gulf Forum in Abu Dhabi
An ETF is a collective investment vehicle that trades on a stock exchange, similar to a listed security.
They offer investors a portfolio of securities that imitates the performance of a particular market or index.
ADX has been working with international organisations and experts specialised in ETFs to evaluate the success of ETF products in other parts of the world.
In Europe, net sales of ETFs increased by 21.9 billion euros in the first half of the year, while in the same period, net sales of mutual funds decreased by 63.1 billion euros.
ETF uptake from South East Asian and Middle Eastern investors has also accelerated, Al Baloushi said.