Stanbic IBTC ETF 30 To Enhance Nigeria’s Market

 Stanbic IBTC Asset Management Limited has said that efforts at enhancing  Nigerian capital market have been boosted with the introduction of Stanbic IBTC Exchange Traded Fund 30 (ETF 30).

The initial public offer had opened on  september 15 ,2014 and expected to  close on October 15, 2014, with a 10,000,000 units of the Fund available at N100 each at par. It offers a minimum subscription of 10,000 units and multiples of 5,000 units thereafter.



The CEO of Stanbic IBTC Asset, Olumide Oyetan made this known at the investors forum in Lagos, yesterday.
He said that said a deep financial sector as well as vibrant capital market is pivotal in enhancing economic efficiency, attracting investment and driving faster growth.
Oyetan said that the company seeks to expand participation of domestic investors in the capital market, which will help in the capital formation process and in turn generate significant returns to investors while fueling wealth creation as well as economic growth.
"The opening of the Stanbic IBTC ETF 30 is a direct response to increased investor demand for passive investment strategies that will deliver the market return for the index being tracked, which in this case is the NSE 30 of the Nigerian Stock Exchange (NSE). The Stanbic IBTC ETF 30 provides a transparent and flexible structure that allows investors efficiently gain exposure to the securities of these companies that have over time out-performed the broad equity market," said Oyetan.

Oyetan stated that the Fund is designed to track the performance of the NSE 30 Index which comprises of the top 30 companies listed on the NSE in terms of market capitalization and liquidity.
According to him, the Fund represents a convenient and efficient way for investors to have access to the top 30 most capitalised and liquid stocks on the NSE, in a cost-effective manner.