By Goddy Egene
Vetiva Fund Managers Limited, managers of the Vetiva Griffin 30 Exchange Traded Fund(ETF) last week announced the final distribution of 15 kobo per share unit for the full-year ended December 31, 2015. The qualification date for the distribution will be Monday, 20th of June while payment will be 24th June 2016.
The final distribution follows an interim dividend of 12 kobo, bringing the total dividend to 27 kobo for 2015 financial year. This is an improvement on the 20 kobo dividend paid in respect of 2014. Speaking on the distribution, the Managing Director of Vetiva Fund Managers Limited, Mr. Damilola Ajayi, said: “The final distribution is in line with the structure of the fund to remit distributions to unit holders twice a year. Also, the VG 30 ETF continues to represent a convenient investment vehicle for exposure to the Nigerian equities market via a single security.”
According to the VG 30 ETF (the first equity-based ETF to be listed on the NSE) is designed to track the performance of the constituent companies of the NSE 30 Index and to replicate the price and yield performance of the index. The index tracks the top 30 companies listed on the NSE in terms of market capitalisation and liquidity. Vetiva Fund Managers Limited is a subsidiary of Vetiva Capital Management Limited, registered with the Securities & Exchange Commission to carry out business as fund/portfolio manager.
In order to provide an alternative investment window for investors, the first ETF was launched on the Nigeria bourse in December 2011. The NSE had explained that it was using the ETF product category to open up cost-effective diversification opportunities for investors, while giving the broker-dealer community an instrument to better service their clientele. When the VG 30 ETF was listed in 014, the NSE had said the listing was anticipated to help advance the investor market in Africa’s fastest growing economy by further broadening the choice of asset classes open to local investors.