- Qatar Stock Exchange lists the first ETF in Qatar; and the largest ETF in the GCC
- Doha Bank and Amwal partner to establish and manage this ETF tracking the QE Index.
- The QE Index ETF (QETF) has among the lowest expense ratios (0.5%) of any MENA equity fund globally
QE Index ETF today has become the first Exchange Traded Fund (ETF) listed on Qatar Stock Exchange under the symbol “QETF”. The listing of the QETF was today announced in a bell-ringing ceremony held at Qatar Stock Exchange. The Fund will track the QE Index that measures the price performance of the top 20 largest and most liquid companies on Qatar Stock Exchange.
The QETF, established by Doha Bank and managed by Amwal, already surpasses the size of any other ETF in the GCC. The Fund will have among the lowest expense ratios of any MENA equity fund globally and will make annual distributions to unit holders based on income received from the underlying securities.
The Group Securities, as the QETF’s Liquidity Provider will support trading by making competitive “two-way” pricing, allowing investors to trade QETF with ease. The Group will maintain the supply of ETF units and ensure the ETF’s price is in line with the value of its underlying index portfolio. Standard Chartered Bank will act as custodian and fund administrator.
“Great thought and effort has gone into the development of an ETF market at QSE and a listing based on our main index was always going to be a proud moment. There’s no denying the popularity of ETFs globally and we’re excited at the new trading opportunities the ETF provides to our investors,” said Rashid Ali Al-Mansoori, CEO of the Qatar Stock Exchange.
“Given the strong outlook for Qatar as an economy, the QETF is a key product offering for us and we look forward to the success of this ETF.”
Mr. Rashid Al Mansoori thanked Qatar Financial Markets Authority, the Qatar Central Bank and Qatar Central Securities Depository (QCSD) for their continuous support and joint effort to offer a distinguished ETF platform in the Middle East.
“As a leading financial institution in the region, Doha Bank looks to set the industry standard and continually explores new financial instruments that drive maximum value for investors not only locally but globally,” said Dr. R. Seetharaman, CEO of Doha Bank. “Through our collaboration with Amwal and The Group Securities, we believe the QETF holds immense promise and opens a gateway to the Qatari market for global investors. We expect this to be the first of many future products focused on Qatar.”
Sheikha Hanadi Nasser Bin Khaled Al Thani, Chairperson of Amwal commented: “Amwal is proud to have the QETF as part of its product portfolio. Passive investment strategies are playing a bigger role for institutional investors looking for emerging market exposure as part of their global asset allocation.” Sheikha Hanadi further added: “Since 1998, Amwal has been the leader and innovator in asset management services, and with the QETF, our product suite will be further expanded to better serve investors domestically and internationally.”