By Chinwendu Obienyi
In a bid to encourage fund managers to contribute to the growth of the Exchange Traded Fund (ETF) market, the Nigerian Stock Exchange (SEC), last week, listed Stanbic IBTC Asset Management (SIAML) Pension ETF 40 into its official list.
Speaking at the Facts behind the Listing Presentation of SIAML Pension ETF 40 in Lagos, Chief Executive Officer, NSE, Oscar Onyema, said the Exchange was admitting 5.97 million units of SIAML Pension ETF 40 to its daily list at a par value of N100 per unit and lauded the firm for maintaining its market position in the Nigerian asset management industry.
“The exchange is admitting to its daily official list 5.97 million units of SIAML Pension ETF 40 at a par value of N100 per unit and the issuer has appointed Stanbic IBTC Securities Limited (SISL) as liquidity provider to facilitate secondary market liquidity on the product.
“SIAML Pension ETF 40, the first ETF to replicate our NSE Pension 40 Index is designed to track the price/yield performance of the index. We celebrate with SIAML and applaud the entire team for maintaining her market position in Nigeria’s Asset Management Industry with an enviable record of excellence and competence,” he said.
Chief Executive of SIAML, Bunmi Dayo-Olagunju, stated that the primary objective of the SIAML Pension ETF 40 was to provide investors access to the most liquid publicly quoted companies on the NSE, which were compliant to the regulatory requirements for investing pension assets.
“The SIAML Pension ETF 40 is designed as an instrument of choice for PFAs, life assurance companies, institutional investors, as well as foreign portfolio managers who are desirous of the Nigerian exposure with minimal liquidity and exit risk,” she stated.
Dayo-Olagunju assured that the firm will continue to leverage its expertise in asset and wealth management, which was built over the past 20 years and will collaborate with the NSE to provide quality products and services that will not only deepen the market but enhance transparency, add value and lead to investor confidence.