Vetiva boosts NSE’s equity with traded fund of N3 bn

They were admitted to trade at the Exchange on Friday and boosted the market capitalisation by N2.752 billion.
Exchange Traded Fund (ETF) tracked the Price and Yield performance of the NSE 30 Index an index of the 30 most capitalised and liquid stocks listed on the Nigerian Stock Exchange.
The VG30 ETF is the first equity-based ETF to be listed on the Nigerian Stock Exchange following the listing of the Newgold Exchange Traded Fund, a commodity based ETF in 2011 in which Vetiva Securities Limited acted as sponsoring broker.
The listing of the Exchange Traded Fund was sequel to the successful completion of the Initial Offer of the VG 30 ETF securities to the public which was 159.40 per cent subscribed.
The Managing Director of Vetiva Fund Managers Limited, fund manager to the ETF, Damilola Ajayi, said the VNSE 30 Index Securities represented a convenient investment vehicle for exposure to the Nigerian equities market via a single security.
Also,Wale Agbeyangi, Managing Director of Cordros Capital,  issuing house to the Fund, reiterated that the ETF represented yet another milestone by Vetiva in its commitment to the deepening of the Nigerian capital market via the listing of new and innovative products.
Vetiva Fund Managers Limited is a wholly owned subsidiary of Vetiva Capital Management Limited and is registered with the Securities and Exchange Commission to carry out its business as Fund/Portfolio Manager.