GQGU ETF IOP Opens November 9–13 Ahead of ADX Listing

Following CMA approval, UAE investors will have an opportunity to subscribe to the US equity ETF managed by renowned portfolio manager Rajiv Jain before its Abu Dhabi trading debut.

The GQG US Equity ETF (GQGU), managed by renowned portfolio manager Rajiv Jain, is preparing to launch its Initial Offering Period (IOP) on the Abu Dhabi Securities Exchange (ADX) from November 9 to November 13, 2026. The five-day subscription window will allow eligible investors to participate ahead of the ETF’s anticipated commencement of trading on ADX.

The announcement follows approval by the UAE Capital Market Authority (CMA) for the cross-listing of the NYSE-listed GQG US Equity ETF on ADX, as reported by Nukoud earlier this week.

GQGU will introduce another actively managed international equity strategy to the Abu Dhabi market, providing local investors with access to a portfolio of leading US companies managed by GQG Partners, a global asset management firm with approximately $149 billion in assets under management as of September 30, 2026.

What Is the Initial Offering Period (IOP)?

The Initial Offering Period allows eligible investors to subscribe for ETF units before the fund begins trading on ADX. Unlike a traditional initial public offering (IPO), which typically involves a company issuing shares to raise capital, an ETF IOP facilitates the creation and distribution of fund units ahead of their exchange listing. Investors subscribe during the designated offering window, after which units are created, allocated and credited to investors’ securities accounts in accordance with the applicable offering terms.

Once trading begins on ADX, investors can buy and sell the ETF through participating brokerage firms, just as they would other exchange-listed securities. For GQGU, the IOP is scheduled to run from Monday, November 9, through Friday, November 13, 2026, ahead of its planned ADX listing. The subscription price, minimum investment, applicable deadlines and first trading date should be confirmed in the official offering documentation.

How Can Investors Subscribe to GQGU?

ADX has established an electronic subscription infrastructure that enables investors to participate in ETF initial offering periods. Based on ADX’s existing IOP framework, the process generally involves the following steps:

1. Obtain an ADX Investor Number (NIN)

Investors require an ADX National Investor Number, which identifies their securities account within the exchange’s clearing and settlement infrastructure. Investors who already have an active NIN may be able to use their existing number.

2. Access the ADX Subscription Platform

Eligible investors can use ADX’s electronic subscription platform to participate in offerings made available through the system. The availability of GQGU and its specific subscription instructions should be confirmed when the offering opens.

3. Select GQGU and Enter the Subscription Amount

Investors will need to review the fund documentation, confirm eligibility and specify their desired investment amount, subject to the offering’s terms.

4. Complete the Required Payment

Payment must be made using the methods and within the deadlines specified for the offering. Investors should ensure they follow the official payment instructions.

5. Receive ETF Units Following Allocation

Following completion of the IOP and applicable settlement procedures, allocated ETF units are expected to be credited to investors’ securities accounts before secondary-market trading begins. Investors who do not participate during the IOP can generally purchase ETF units through ADX-licensed brokers once the fund begins trading, subject to market availability.

For subscription details, investors should consult the official ADX eIPO platform and the GQGU offering documents.

What Is the GQGU ETF?

The GQG US Equity ETF is an actively managed investment fund seeking long-term capital appreciation through investments primarily in US equities. Unlike traditional index-tracking ETFs that replicate the S&P 500 or other benchmarks, GQGU allows its investment team to select companies based on fundamentals, earnings sustainability, competitive positioning and valuation. Its portfolio includes some of America’s most recognizable companies, including Nvidia, Microsoft, Apple, Alphabet and Amazon.

 

As of October 28, 2026, the ETF managed approximately $550 million in assets, with a relatively concentrated portfolio of US equities.

Source: GQG Partners. Fund assets as of October 28, 2026. Portfolio information and expenses are subject to change.

Although GQGU offers exposure to multiple US companies, its active approach and substantial technology holdings mean that its performance can differ considerably from the broader US market.

Rajiv Jain: The Portfolio Manager Behind GQGU

GQGU is managed by GQG Partners, the global investment management firm co-founded in 2016 by Rajiv Jain and Tim Carver. Jain, currently Executive Chairman and Chief Investment Officer, has more than three decades of investment management experience.

Before establishing GQG, he spent over two decades at Vontobel Asset Management, where he managed international, emerging-market and global equity portfolios and served as Chief Investment Officer. Since its establishment, GQG Partners has grown into a major global asset manager, surpassing $150 billion in assets during its history.

The firm also developed a longstanding relationship with Goldman Sachs Asset Management, serving as investment sub-adviser to Goldman Sachs-branded funds. This collaboration helped introduce GQG’s investment strategies to a broader institutional and retail investor audience. GQGU, however, is independently managed by GQG Partners. For investors on ADX, the upcoming cross-listing represents an opportunity to access an active US equity strategy associated with a well-established international investment team.

ADX Continues Its Expansion as a Regional ETF Hub

The introduction of GQGU represents another step in ADX’s strategy to expand its international ETF ecosystem and provide regional investors with access to investment products from global asset managers. ADX has increasingly focused on facilitating cross-listings of international ETFs, including US-listed funds, through infrastructure connecting international custodians, authorized participants, market makers and the UAE’s clearing and settlement systems.

In April 2026, ADX completed the region’s first IOP for a US-based ETF with the KraneShares Wahed Alternative Income Index ETF (KWIN). That offering attracted subscribers from more than 46 nationalities and demonstrated the potential for Abu Dhabi to serve as a regional distribution market for international investment products. Recently two other New York Stock Exchange crosslistings KDEF and KMCA ETFs debuted on ADX. 

The addition of GQGU would further expand the range of strategies available to investors, complementing ADX’s existing passive equity, thematic and fixed-income ETFs with an established actively managed US equity strategy. Importantly, the cross-listing also gives international asset managers another channel through which to reach UAE and regional investors, supporting ADX’s ambition to become a leading ETF marketplace in the Middle East.

What is after the IOP?

With the GQGU IOP scheduled for November 9–13, the next milestone will be the completion of subscriptions, ETF unit creation and settlement ahead of the fund’s ADX trading debut. Investors should monitor ADX announcements for confirmation of the official subscription terms, allocation procedures and first trading date.

The introduction of GQGU highlights the growing importance of international ETF cross-listings in Abu Dhabi and the expanding choices available to regional investors seeking access to global capital markets. This article follows Nukoud’s November 4, 2026 report, “Star Portfolio Manager Rajiv Jain’s GQGU ETF Set to Trade on ADX Following CMA Approval.”

Disclaimer: This article is intended for informational purposes only and does not constitute investment advice. ETF investments involve market risk, including potential loss of capital. Investors should review the official prospectus, offering terms, fees and risks before investing.