Abu Dhabi-based asset manager Lunate is expanding its Shariah-compliant range with the launch of the GCCDIV ETF, an exchange-traded fund it describes as the first to offer investors dividend-focused access to multiple Gulf markets in a single product. The fund is scheduled to list on the Abu Dhabi Securities Exchange (ADX) on 23 June 2026.
What the fund tracks
The ETF follows the Solactive GCC Shariah Dividend Index, which is made up of dividend-paying, Shariah-compliant companies from across the Gulf Cooperation Council. The index currently includes leading firms in the UAE, Saudi Arabia and Qatar, spanning sectors such as materials, telecommunications, energy and industrials.
By screening for both dividend payments and Shariah compliance, the fund targets investors who want regular income and exposure to Gulf blue chips without holding each stock directly.
Terms for investors
GCCDIV is traded in UAE dirhams and aims to distribute dividends on a semi-annual basis, with a total expense ratio of 0.50 per cent — the annual cost of holding the fund. Trading in dirhams removes currency-conversion friction for local investors.
Deepening the local market
The launch adds to a fast-growing line-up of exchange-traded funds on ADX, which has been working to broaden its product range and attract regional and international capital. ETFs have become a key tool for that effort because they give retail and institutional investors low-cost, diversified exposure in a single listed instrument. Lunate, one of the largest managers to emerge from Abu Dhabi in recent years, has been building out a suite of Shariah-compliant and conventional funds, and the GCC dividend product extends that range to income-focused investors. A first-of-its-kind multi-market Gulf dividend ETF also signals ambitions to make ADX a regional hub for Islamic finance instruments.