Lunate Launches First Global GCC Sharia-Compliant Dividend ETF

Lunate, an Abu Dhabi-based investment manager, is set to list a new sharia-compliant dividend-paying exchange-traded fund (ETF) on the Abu Dhabi Securities Exchange (ADX) on June 23rd.

The fund tracks the Solactive GCC Shariah Dividend Index, which comprises dividend-paying, sharia-compliant equities from across Gulf Cooperation Council markets, including companies listed in the UAE, Saudi Arabia and Qatar.

Constituent companies span a range of sectors, including materials, telecommunications, energy and industrials.

According to Lunate, the ETF is designed to distribute dividends to investors on a semi-annual basis.

The listing will mark the firm's 20th ETF on ADX and its 22nd ETF across the UAE.

Lunate stated that the product offers investors access to multiple GCC markets through a single dividend-focused, sharia-compliant investment vehicle.

The fund will be managed by Lunate Capital, while BNY Mellon will serve as global custodian. The underlying index is maintained by Solactive AG.

According to ADX, ETF trading activity on the exchange has grown significantly, with trading value rising from AED 48 million in the first quarter of 2025 to AED 155 million in the first quarter of 2026 as investors increasingly seek diversified exposure to sectors, themes and regional markets.

Lunate is majority owned by Chimera Investment and manages approximately $110 billion in assets across private markets, including buyouts, growth equity, venture capital and private credit strategies.