The Abu Dhabi Securities Exchange (ADX) has marked the UAE’s first financial listing of 2026 with the debut of a new luxury-focused exchange-traded fund (ETF), developed by Abu Dhabi-based investment manager Lunate.
The Boreas S&P Absolute Luxury UCITS ETF, has become the first luxury-focused ETF in the region and the 21st ETF to list on the ADX. The listing reinforces Abu Dhabi’s growing status as a regional hub for exchange-traded products, following a year of explosive growth for the sector.
Tapping into global wealth
The new fund is designed to give local investors direct access to 32 leading global luxury companies that benefit from structural growth drivers such as rising global wealth and demand for premium lifestyle experiences.
Tracking the S&P Europe Luxury 35/20 Capped Index, the ETF offers exposure to a sector with a total market capitalization of 5.2 trillion dirhams. Its holdings span fashion, jewelry, hospitality, and automotive sectors, featuring major global brands including LVMH (Louis Vuitton, Dior), Richemont (Cartier, Van Cleef & Arpels), Hermès, Ferrari, and L’Oréal.
Sherif Salem, partner & head of public markets at Lunate, commented: “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 galvanize demand for luxury from a new category of consumers.”
A booming ETF market
The listing comes amidst a surge in activity for Abu Dhabi’s ETF ecosystem. According to the ADX, the exchange’s ETF market capitalization reached 33 billion dirhams at the end of 2025, representing an almost forty-fold increase compared to the same period in 2024.
Abdulla Salem Alnuaimi, group CEO of ADX, highlighted the strategic importance of expanding the product suite: “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.”
The ETF was listed following an initial offering period (IOP) held from 15 to 21 January. Unlike traditional IPOs, allocations during the IOP were based on investor demand subject to market conditions.