What is Afkar S&P UAE UCITS ETF?

The Afkar S&P UAE UCITS ETF is the first fully-tradable, fully fungible liquid and transparent exchange-traded fund in the Middle East. It is a replication of one of the world’s most compelling emerging markets, giving you exposure to the UAE economy – MENA's second largest market in terms of market capitalisation and liquidity – through investing in the Abu Dhabi Exchange, the Dubai Financial Market, and Nasdaq Dubai.

The fund, known in shorthand as UAETF from its code on the Dubai Financial Market, gives you single-click exposure to one of the world’s premier financial and commercial hubs, backed by the world’s seventh largest base of proven oil reserves.

How is UAETF traded?

UAETF is listed on the Dubai Financial Market, where it is bought and sold just like a share under the code “UAETF.”

It replicates the S&P UAE BMI Liquid 20/35 Capped Index and trades the entire trading day, with normal trading fees, no entry or exit fees in the secondary market, and a nominal management fee . You’ll always know what you’re investing in, because NAVs are published on a daily basis and intraday iNAVs throughout the trading day.

Our Supporters

UAETF is being launched by Afkar Capital, S&P and Bank of New York Mellon. S&P Dow Jones is the world’s largest provider of financial market indices, with almost USD 8 trillion of global assets benchmarked to the S&P 500 and over 1,800 subscribed clients across over 70 countries. More than USD 3 trillion are directly indexed to S&P Dow Jones indices.

The Bank of New York Mellon is the world’s largest depositary bank, with over USD 1.5 trillion in assets under management and USD 28.5 trillion of assets in custody and administration.

Regulatory Framework

UAETF is regulated under the European Union’s UCITS Regulation, one of the world’s most well-known regulatory frameworks. UAETF is also governed by the rules and regulations of the Emirates Securities and Commodities Authority, the Abu Dhabi Global Market, the Dubai Financial Market, and the Central Bank of Ireland.

Understanding UCITS

UCITS stands for “Undertakings for Collective Investment in Transferable Securities”, and is European Union's framework regulating the cross-border marketing of collective investment funds. In simple terms, a UCITS-regulated fund is supervised by a single EU member state — Ireland, in the case of UAETF — to a common standard that includes a high level of investor protection and prudential supervision. You can learn more about UCITS at this FAQ on the European Union’s website or visit the Central Bank of Ireland’s UCITS page here.

Management: Afkar Capital

Seif Fikry
Chief Executive Officer and Founding Partner
Prior to founding Afkar Capital, Seif was the Chief Executive Officer for the lower GCC countries at EFG Hermes. Seif was earlier managing director and head of securities brokerage at EFG Hermes in the UAE and Oman. During his time with the firm, he developed EFG Hermes’ MENA Trading capabilities, generating USD 100 million in revenues on a total annual trading volume in excess of USD 75 billion, and spearheaded its GCC brokerage business making it the leading regional broker. Earlier, he was head of the institutional sales and trading desk at EFG Hermes’ Financial Brokerage Group (FBG) as well as a member of the Emirates Securities & Commodities Authority’s (ESCA) Advisory Committee.
Sylvain Vieujot
Non-Executive Chairman and Founding Partner
Sylvain Vieujot founded www.freelance.com in 1996 and listed it on the Euronext in 2005. In 2010, he established Emirates REIT Management (Private) Limited and the Middle East’s first Real Estate Investment Trust (REIT), which in 2014 became the UAE’s first IPO since 2008 and currently has over AED 2.5 billion in assets under management. Sylvain also established La Trésorerie, an asset management platform, in 2013.