Mubasher: The Qatar Stock Exchange (QSE) on Wednesday announced the beginning of trading Al Rayan Qatar ETF under the symbol “QATR”.
The fund’s initial assets amounted to $120 million, according to the Qatar Stock Exchange's (QSE) statement.
“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,” the statement showed.
The fund’s founder is Masraf Al Rayan, while the fund’s manager is Al Rayan Investment.
“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,” CEO of the QSE Rashid Ali Al-Mansoori said.
The fund will distribute its dividends once a year.
