Vetiva plans to list 3 ETFs

By OMODELE ADIGUN

FOLLOWING the final approval from the Se­curities and Exchange Commission(SEC), Vetiva Fund Managers Limited is to list three Exchange Trad­ed Funds(ETFs) anchored on the NSE Banking In­dex, NSE Consumer Goods Index and NSE Industrial Index.

A statement from the company lists the three ETFs as Vetiva Banking Exchange Traded Fund (VB ETF), Vetiva Con­sumer Goods Exchange Traded Fund (VCG ETF) and the Vetiva Industrials Exchange Traded Fund (VI ET).

Already, the signing cer­emony of their proposed initial offer for subscription has been held by the fund managers to herald their de­but. Recall that Vetiva listed the first equity ETF, the Vet­iva Griffin 30 ETF, which tracks the performance of the NSE 30 Index on the Exchange, in March 2014.

The statement from the company read in part:

“Following the receipt of the Securities and Ex­change Commission clear­ance of the offer documents in respect of the proposed initial offer for subscription of three Exchange Traded Funds i.e. the Vetiva Bank­ing Exchange Traded Fund (VB ETF), the Vetiva Con­sumer Goods Exchange Traded Fund (VCG ETF) and the Vetiva Industrials Exchange Traded Fund (VI ETF), Vetiva Fund Manag­ers Limited is pleased to an­nounce the successful host­ing of the signing ceremony in respect of the proposed Initial Offer.

“The Board of Directors of the Vetiva Fund Manag­ers Limited and relevant professional parties were present to execute the offer documents during the sign­ing ceremony.

Vetiva Fund Manag­ers Limited, upon receipt of final approval from the Securities and Exchange Commission, plans to list the Exchange Traded Funds based on the NSE Bank­ing Index, NSE Consumer Goods Index and NSE In­dustrial Index respectively on the floors of the Nigerian Stock Exchange.

“Vetiva listed the first equity Exchange Traded Fund (the Vetiva Griffin 30 ETF, which tracks the per­formance of the NSE 30 In­dex) on the Nigerian Stock Exchange, in March 2014.

Source : SunOnline