ABU DHABI (ALETIHAD)
The Abu Dhabi Securities Exchange (ADX) plans to cross-list the GQG US Equity ETF (GQGU) on November 19, giving investors in the UAE and across the exchange’s Tabadul network access to a fund that invests in US equities.
The initial offering period runs from November 9 to 13. The fund, managed by GQG Partners, already trades on NYSE Arca and is expected to become the 27th exchange-traded fund listed on ADX.
The ETF had $473 million in assets under management as of November 5. Its top holdings include Nvidia, Microsoft, Apple, Alphabet and Amazon.
The fund seeks to invest in attractively priced companies with lasting competitive advantages and durable earnings, while actively managing the risk of losses.
GQG Partners, founded in 2016, is headquartered in Fort Lauderdale, Florida, and has its international headquarters in Abu Dhabi Global Market (ADGM). The firm managed $149.2 billion in assets as of September 30 and employed about 241 people globally, including 20 in ADGM.
The planned cross-listing follows the addition earlier this month of two South Korea-focused ETFs managed by Hanwha Asset Management.