Vetiva Exchange Traded Funds Make Distributions to Investors


Goddy Egene

Vetiva Fund Managers Limited has announced the final distributions for the full year ended December 2019 for three of its exchange traded funds (ETFs), the Vetiva Griffin 30 ETF; Vetiva S&P Bond ETF and Vetiva Banking ETF.

Unitholders of the Vetiva Griffin 30 ETF are to get N0.50 per unit, while those of Vetiva S&P Bond ETF and Vetiva Banking ETF would receive N16.50 and N0.14 per unit respectively. The distribution would be pay to unit holders whose names appear in the relevant register of unit holders as at 5.00pm on July 22, 2020.

Speaking on the distribution, Executive Director, Vetiva Fund Managers Limited, Mrs. Oyelade Eigbe , said: “The distribution is in line with the structure of the Fund to remit distributions to unit holders. Also, the ETFs continue to represent convenient investment vehicles for broad exposure to the Nigerian equities market, Nigerian bond market and relevant sectors of interest via a single security.”

According to her, the VG 30 ET is designed to track the performance of the constituent companies of the NSE 30 Index. The index is constituted of the top 30 companies listed on the NSE in terms of market capitalisation and liquidity.

“On the other hand, the VS&P Bond ETF is the first Bond ETF to be listed on the NSE and the FMDQ and is designed to track the performance of the S&P/FMDQ Nigeria Sovereign Bond Index, which tracks the performance of local currency denominated sovereign debt publicly issued by the Federal Government of Nigeria,” she added.

On its own, the Vetiva Banking ETF is designed to track the performance of the NSE Banking Index.

“Other ETFs and mutual funds managed by Vetiva are the Vetiva Consumer Goods ETF, Vetiva Industrial Goods ETF and the Vetiva Money Market Fund. The ETFs track the performance of the NSE Consumer Goods Index and NSE Industrial Goods Index respectively, whilst the Vetiva Money Market Fund invests in a diversified portfolio of money market instruments to meet its objective of capital preservation, liquidity and current income,” she explained.

Meanwhile, trading at the stock market resumed for the week on a bearish note as the Nigerian Stock Exchange (NSE) All-Share Index fell by 0.06 per cent to close at 25,027.61, while market capitalisation shed N7.5 billion to be at N13.1 trillion.

Activity level was mixed as volume traded advanced 4.8 per cent to 175.2 million shares while value traded dipped 28.9 pe rcent to N1.4 billion. The top traded stocks by volume were FBN Holdings Plc (22.9 million shares), Unilever Nigeria Plc (17.2 million shares) and Guaranty Trust Bank Plc (14 million shares).