The Nigerian Stock Exchange (NSE), on Monday, announced the listing of the Greenwich Alpha ETF by Greenwich Asset Management Limited, on its Daily Official at N100 each, this is following an Initial Public Offer (IPO).
A statement released NSE explained that Greenwich Alpha is an open-ended ETF that tracks the NSE 30 Index which comprises 30 most liquid and capitalized stocks listed on the Exchange. It further explained that the fund is designed to enable investors to access the constituent companies of the NSE 30 index.
According to the Managing Director, Greenwich Asset Management Limited, Dayo Obisan, “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 commenting on the listing is Jude Chiemeka, Head, Trading Business Division, he 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 serving 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”.