Vetiva to List   Bond ETF, Pays Interim Dividend on Banking ETF

By Goddy Egene

Vetiva Fund Managers Limited has been given approval by the Securities and Exchange Commission (SEC) and the Nigerian Stock Exchange(NSE) to introduce and list the  Vetiva S & P Nigerian Sovereign Bond Exchange Traded Fund (VS&P ETF). This is sequel to the signing ceremony between the board of Vetiva Fund Managers Limited and all the professional parties. According to Vetiva Fund Managers Limited, upon receipt of final approval from the SEC,  the VS&P ETF  will be listed  on the NSE. This would be the first bond ETF to be listed on the floor of the NSE and it will present an opportunity for investors to access Nigerian Federal Government Bonds in retail lots.

The company said in a  statement  by Vetiva Fund Managers Limited   the VS&P  ETF is an optimised bond EFT issued by Vetiva. It seeks to track Vetiva S& P Nigerian Sovereign Bond Index and by owning units in the ETF an investor obtains exposure to the most liquid and actively traded Federal Government Bond securities.

Meanwhile,  the company has announced an interim distribution, for the half-year ended 30th June, 2016, of three kobo per unit of the Vetiva Banking Exchange Traded Fund (VB ETF). The qualification date for the distribution was Monday, 25th July 2016 and  payment  date of Friday, 29th July 2016.

Speaking on the interim distribution, the Managing Director of Vetiva Fund Managers Limited, Mr. Damilola Ajayi, said: “The distribution is in line with the structure of the Fund to remit distributions to unit holders twice a year. Also, the VB ETF continues to represent a convenient investment vehicle for exposure to the Nigerian banking sector on the NSE via a single security.”

According to him, the VB ETF is designed to track the performance of the constituent companies of the NSE banking index and to replicate the price and yield performance of the Index. The index tracks the top 10 banks listed on the NSE in terms of market capitalisation and liquidity.

Vetiva Fund Managers Limited is a subsidiary of Vetiva Capital Management Limited and is registered with the SEC to carry out business as Fund/Portfolio Manager.

The company has listed the first equity exchange traded fund (The Vetiva Griffin 30 ETF which tracks the performance of the NSE 30 index) in March 2014.  Vetiva also listed the first set of Sectorial exchange traded funds (The Vetiva Banking ETF, Vetiva Consumers Goods ETF and Vetiva Industrial Goods ETF in October 2015).

 

 

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