The Abu Dhabi Securities Exchange (ADX) Group launched the UAE’s first financial instrument listing of the new year with the Boreas S&P Absolute Luxury UCITS ETF.
ADX is the region’s largest and most active exchange traded fund (ETF) market and the new listing reflects its commitment to broadening access to innovative investment products and providing access to specialised global investment themes.
Luxury investment theme debuts
The Boreas S&P Absolute Luxury UCITS ETF is developed by the Abu Dhabi-based global investment management firm Lunate. It is the first luxury-focused ETF in the region, and it will be the 21st ETF listed on ADX.
The ETF was listed following an initial offering period (IOP) held from 15 to 21 January, during which investors subscribed to fund units. Unlike a traditional IPO, IOP allocations generally reflect investor demand, subject to market conditions.
The ETF provides exposure to 32 companies benefiting from structural growth drivers, such as rising global wealth and increasing demand for premium travel and lifestyle experiences. The fund tracks the S&P Europe Luxury 35/20 Capped Index, representing a total market capitalisation of AED5.2 trillion.
Holdings include global luxury brands such as LVMH (Louis Vuitton, Dior, Fendi, TAG Heuer), Richemont (Cartier, Van Cleef & Arpels, Montblanc), Hèrmes, Ferrari and L’Oréal, spanning fashion, jewellery, hospitality, and automotive sectors.
Abdulla Salem Alnuaimi, Group Chief Executive Officer of the Abu Dhabi Securities Exchange (ADX) Group, said: “Marking the UAE’s first public offering and listing of a financial instrument in the UAE for 2026, Lunate’s luxury-focused ETF introduces a new investment theme to Abu Dhabi and the wider region.
“With 21 ETFs now listed and a growing product suite, we continue to expand our product offering through strong partnerships and world-class products, supporting portfolio diversification and income generation while reinforcing Abu Dhabi’s transition to a knowledge and investment-driven economy.”
Sherif Salem, Partner & Head of Public Markets at Lunate, added: “We are excited to list our third thematic ETF on the ADX, demonstrating our commitment to delivering compelling investment opportunities for investors in the UAE.
“Our Boreas range is designed to capture themes with attractive long-term growth potential supported by emerging global megatrends. The Boreas S&P Absolute Luxury UCITS ETF enables investors to benefit from the significant growth in global wealth, which is expected to galvanise demand for luxury from a new category of consumers.”
The ETF market capitalisation on ADX reached AED33 billion ($9 billion) at the end of 2025, almost a 40-fold increase from the same period in 2024.
