The Nigerian Stock Exchange (NSE), yesterday, announced the listing of the Greenwich Alpha ETF (Greenwich Alpha) by Greenwich Asset Management Limited, on its Daily Official List. This is even as the Greenwich Alpha ETF units were listed at N100 each following an Initial Public Offer (IPO) on Monday.
Greenwich Alpha is an open-ended ETF which tracks the NSE 30 Index; an index which constitutes 30 of the most liquid and capitalised stocks trading on the Exchange. It is designed for investors to access the constituent companies of the NSE 30 index, thereby getting the performance of the index.
Speaking at the listing in Lagos, the Managing Director, Greenwich Asset Management Limited, Dayo Obisan, said that 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.
He said, “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.”
Head, Trading Business Division, NSE, Jude Chiemeka, welcomed Greenwich Asset Management Limited to the Exchange’s growing list of ETF providers.