Vetiva Fund Managers Limited has announced the listing of the VG30 Exchange Traded Fund (“VG30 ETF”), an Exchange Traded Fund (“ETF”) that tracks the Price and Yield performance of the NSE 30 Index (an index of the 30 most capitalized and liquid stocks listed on The Nigerian Stock Exchange). The VG30 ETF is the first equity-based ETF to be listed on The Nigerian Stock Exchange following the listing of the Newgold Exchange Traded Fund (a commodity based ETF) in 2011 (in which Vetiva Securities Limited acted as Sponsoring Broker).
The listing of the Exchange Traded Fund is subsequent to the successful completion of the Initial Offer of the VG 30 ETF Securities to the Public which was 159.40% subscribed.
The Managing Director of Vetiva Fund Managers Limited (Fund Manager to the ETF), Damilola Ajayi, commented that the VNSE 30 Index Securities represents a convenient investment vehicle for exposure to the Nigerian Equities Market via a single security. Also, Wale Agbeyangi, Managing Director of Cordros Capital (Issuing House to the Fund) reiterated that the ETF represents yet another milestone by Vetiva in its commitment to the deepening of the Nigerian Capital Market via the listing of new and innovative products.
Vetiva Fund Managers Limited is a wholly owned subsidiary of Vetiva Capital Management Limited and is registered with the Securities & Exchange Commission to carry out business as Fund/Portfolio Manager.