NSE Lists Greenwich Alpha ETF as Market Opens on Positive Note

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Goddy Egene

The Nigerian Stock Exchange (NSE) yesterday listed the Greenwich Alpha ETF by Greenwich Asset Management Limited. The Greenwich Alpha ETF units were listed at N100 each following an initial public Offer (IPO). Greenwich Alpha is an open-ended ETF which tracks the NSE 30 Index, an index which constitutes 30 of the most liquid and capitalised stocks trading on the NSE. It is designed for investors to access the constituent companies of the NSE 30 index, thereby getting the performance of the index.

Speaking at the listing ceremony, the Managing Director, Greenwich Asset Management Limited, Mr. Dayo Obisan, said: “The Greenwich Alpha ETF Fund is designed for and offered to investors seeking exposure to the Nigerian equities market, particularly to the constituents of the NSE-30 index. It offers the full benefits of diversification through a single transaction thereby reducing associated transaction cost and helping investors spread their risk. We will continue to encourage retail and institutional investment in this Fund based on its potentials.”

Also speaking, Head, Trading Business Division, NSE, Mr. Jude Chiemeka, said: “We are delighted to welcome Greenwich Asset Management Limited to our growing list of ETF providers. Globally, ETFs continue to make an impact as effective tools for accessing the market, diversifying investments, and serves as an alternative investment solution for intermediaries to recommend to their clients. As the leading stock exchange for listing and trading ETFs in West Africa, we will continue to lead innovation in the market as well as support the issuance of products and investment vehicles that meet the objectives of investors. We operate an efficient, orderly and transparent market based on cutting edge technology, to support product development efforts for the benefit of all investors. We remain resolute in our commitment to partnering with all market stakeholders, to continue to build and develop the Nigerian capital market, while offering a wide range of investment vehicles for all investors.”

Meanwhile, trading at the stock market resumed on positive note as the NSE All-Share Index rose by 0.71 per cent to close at 27,115.89 following bargain hunting by investors.

However, activity level was mixed as volume decreased by 2.9 per cent to 250.7 million shares while value of trading rose 18.1 per cent to N4.2 billion. The most active stocks by volume were Lafarge Africa Plc (47.2 million shares), Transcorp Plc (41.1 million shares) and Zenith Bank Plc (26.7 million shares).