Dubai: Afkar Capital Limited, the Abu Dhabi-based asset management firm, said on Monday they will liquidate their underlying holdings in UAETF with assets under management of Dh8 million as of close on July 23.
Afkar’s board has instructed the investment manager to transfer the proceeds of such sale to the Dubai Financial Market, Afkar said in a statement.
The primary market redemption process is expected to be concluded by next week and the secondary market redemption process is pending approval from regulators, the company added.