DAILY PRICE LIST FOR MUTUAL FUNDS, REITS and ETFS

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Vetiva Fund Managers to Rebalance Exchange Traded Funds Suite
By Goddy Egene
Vetiva Fund Managers Limited yesterday said it would rebalance  its Exchange   Traded Fund (ETF) suite.  Vetiva Fund Managers Limited has funds that track the price and yield performance of the various indices in the market. But the Nigerian Stock Exchange (NSE) has rebalanced the indices effective January 3, 2017.
Vetiva said in line with the action of the NSE, it will also make adjustment to its ETF suite.
“As the investment objective of the Vetiva ETF Suite is to track the price and yield performance of the relevant indices, any change to the underlying indices will require the ETF Trusts to make corresponding adjustments to the portfolios on rebalancing in line with the changes to the relevant indices. The key changes include, but are not limited to, the exiting of Diamond Bank Plc, Fidelity Bank Plc, Sterling Bank Plc from the Vetiva Griffin 30 ETF portfolio. Also, relevant weightings adjustments will be made to portfolios in line with the review of the relevant indices,” the firm said.
The NSE reviewed the NSE-30; NSE Consumer Goods; NSE Banking; NSE Insurance;  NSE Industrial; NSE Oil & Gas; NSE Pension and the NSE Lotus Islamic Indices.
These indices are normally reviewed bi-annually (June and December) except for NSE Pension index that is reviewed once in the year (December).
The review process will see the entry of some major companies and the exit of others from the various indices.
Following the latest review for last December,  three new stocks came into the NSE 30 Index and three exited. Okomu Oil Palm Plc, Presco Plc and Conoil Plc came while Diamond Bank Plc, Sterling Bank Plc and Fidelity Bank Plc exited. There were no changes in the NSE Consumer Goods and NSE Banking, NSE Industrial, and NSE Oil/Gas  indices.
The NSE Insurance Index saw the entry of Prestige Assurance Plc, Sovereign Trust Insurance Plc and Unity Kapital Insurance Plc, just as Equity Assurance Plc, Linkage Assurance Plc and Universal Assurance Plc exited.
Ecobank Transnational Incorporated, Dangote Flour Mills Plc, United Capital Plc joined NSE Pension Index, while Beta Glass Company Plc, International Breweries Plc and Skye Bank Plc left. Forte Oil Plc entered the NSE Lotus Islamic Index, while Lafarge Africa Plc exited.