VFM rebalances NSE traded funds
Vetiva Fund Managers Limited has said it is committed to adjusting its portfolios traded on the Nigerian Stock Exchange via rebalancing to meet current realities in the market.
This, the firm said in a statement, referred to the press release by the NSE dated Wednesday, June 30, 2016 in which the results of the bi-annual review for relevant indices including the NSE 30, NSE Banking, NSE Consumer Goods and NSE Industrial Indices were announced.
Quoting the Nigerian Stock Exchange, it said, “The composition of these indices after the review will be effective Thursday, July 1, 2016.”
As the investment objective of the Vetiva ETF Suite is to track the price and yield performance of the relevant indices, the firm said any change to the underlying indices would require the ETF Trusts to make corresponding adjustments to the portfolios on rebalancing.
Further to the above, Vetiva Fund Managers Limited said it would rebalance the ETF Portfolios in line with the changes to the relevant indices.
Vetiva Fund Managers Limited is a wholly-owned subsidiary of Vetiva Capital Management Limited and is registered with the Securities and Exchange Commission to carry out business as fund/portfolio manager.
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