ITI Funds has become the first provider to list an ETF on Kazakhstan’s Astana International Exchange (AIX).

The ITI Funds UCITS ETF SICAV (RUSB) listed on 3 July with quotation and settlement in US dollars. RUSB is also listed on the London Stock Exchange and the Moscow Exchange (MOEX).

ETF platform ITI Funds launched in February 2018 with two Russia ETFs on the Irish Stock Exchange, the ITI Funds RTS Equity UCITS ETF and the ITI Funds Russia-focused USD Eurobond UCITS ETF.

Tim Bennett, CEO of AIX, commented: “We are very pleased to welcome the first ETF issuer on Astana International Exchange.

“The listing of the first ETF on the AIX will provide investors with a simple and transparent tool to invest in various assets worldwide.

“The introduction of ETF is a part of AIX’s strategy to broaden the options available on the capital market to support the development of the investor base in Kazakhstan.”

Gleb Yakovlev, CEO of ITI Funds, added: “This listing should make our units more attractive and accessible for local investors while giving us better visibility in Kazakhstan and providing an opportunity to broaden our investors base.”

AIX was formed in 2017 within the Astana International Financial Centre (AIFC) development framework.