Qatar Stock Exchange has admitted to trading the Al Rayan Qatar ETF under the symbol “QATR”. To mark the launch of the ETF, the exchange today welcomed the fund’s founder, Masraf Al Rayan, and fund manager, Al Rayan Investment, to open trading in Doha. The Fund will track the QE Al Rayan Islamic Index (Price) which is comprised of large and medium sized, Shari’a-compliant, listed Qatari companies.
- Al Rayan Qatar ETF (QATR) commenced trading today with initial assets in excess of 120 million USD
- Al Rayan Investment will operate the ETF which tracks the price performance of the QE Al Rayan Islamic Index.
- The ETF has the lowest management fee of any Shari’a-compliant fund globally
The Al Rayan Qatar ETF becomes the largest single-country Islamic ETF in the world and is the latest addition to QSE’s burgeoning exchange-traded fund lineup.
Al Rayan Qatar ETF and the Shari’a screening methodology of the underlying index are based on a fatwa issued by Al Rayan’s Shari’a Supervisory Board.
The Group Securities will act as Liquidity Provider for the ETF units, providing continuous quotations in line with the value of the fund’s assets.
HSBC Qatar will act as custodian and fund administrator. The Fund will distribute dividends at least once a year, net of expenses and purification. The total expense ratio (TER) is 0.5%.
As an exchange we’re delighted that the world’s largest single-country Islamic ETF is available to trade exclusively in Doha. Al Rayan Investment has a strong reputation in asset management locally and the index itself makes for a Shari’a-compliant investment strategy and diversification for QSE investors,” said Rashid Ali Al-Mansoori, CEO of the Qatar Stock Exchange.
Having the largest Shari’a-compliant single country ETF in the world is a testament to the trust our clients have in Masraf Al Rayan. We are extremely grateful for the support of our investors and look forward to the success of QATR and the Qatari capital markets,” added Adel Mustafawi, Group Chief Executive Officer of Masraf Al Rayan.
Haithem Katerji, Chief Investment Officer of Al Rayan Investment commented:
After a considerable period of work behind the scenes we are very proud to have launched QATR today. We have given all investors access to an excellent investment product which currently has a dividend yield of more than 5%. The best way to invest across Qatari shares is via QATR.