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NBAD To Unveil Exchange-traded Fund

In order to attract more overseas investors

National Bank of Abu Dhabi (NBAD) is planning to launch the first Gulf Arab exchange-traded fund that is said to track some of the region’s 50 largest stocks – reported The National.

In an interview to the news service, Giyas Gokkent, chief economist and co-head of National Bank’s asset management unit, said: “The fund (known as ETF) will be listed on the Abu Dhabi Securities Exchange and will give investors convenient and easy access to a basket of stocks across the region.”

“We think there will be a lot of demand as exposure of international investors to this region is still behind the curve. This particular product will be novel as it will give investors access at one shop,” he added.