Yaqeen S&P ESG MENA ETF debuts on TASI today

Tadawul trading screen 

Yaqeen S&P ESG MENA ETF began trading on the Main Market (TASI) today, Feb. 19, under the symbol 9409 and ISIN Code SA162G54J0L6.

This fund is a public, open-ended exchange-traded fund (ETF) that complies with Shariah standards. It aims to replicate the MSCI Index performance through passive management of a basket of stocks.

In May 2024, Yaqeen Capital launched the initial public offering (IPO) of Yaqeen S&P ESG MENA ETF on TASI.

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The fund intends to invest 95% of its net assets in Shariah-complaint stocks across markets in Bahrain, Egypt, Jordan, Oman, Qatar, Saudi Arabia, Tunisia, and the UAE, as part of the benchmark index portfolio.

It will retain up to 5% of its net assets in cash to cover operating expenses.

The fund aims to track the index's performance with a maximum annual deviation of 2%, considering factors like income and expenses. However, there is no guarantee that the fund manager will perfectly match the index’s performance.