Monday, March 13,2017 5.00pm/Proshare WebTV
The Exchange Traded Fund market in Nigeria, received a boost in activity with the listing of the first ever Vetiva S&P Nigerian Sovereign Bond ETF, in the FMDQ OTC Exchange.
This marked a new dawn for the three-year old FMDQ OTC, which has become a strategic exchange in the debt capital market segment.
Giving his remarks at the event, the MD of Vetiva Fund Managers Mr Damilola Ajayi commended the FMDQ, for its commitment to development of the Nigerian capital market.
Ajayi was optimistic that the ETF market which was growing in Nigeria, will receive further value and depth through the listing of the Vetiva S&P Nigeria Sovereign Bond.
Mr Ajayi said "lack of diversification opportunities across asset classes, from the retail market space has hindered the accumulation of savings".
The Vetiva S&P Nigerian Sovereign Bond ETF, according to him will enable the tracking of the value of the S&P Bond, which is the benchmark for securities in the market.
He lauded the Debt Management Office and the FMDQ OTC Exchange on the partnership to boost the retail access platforms and money market securities in the country.
Speaking also at the listing ceremony, the MD/CEO of the FMDQ Mr Bola Onadele, Koko described it as another milestone for the exchange.
The FMDQ boss believed the listing will bring the FMDQ value proposition around Exchange Traded Funds, and traction to the Fixed Income Market.
Mr Onadele also noted that the partnership signed recently with S&P on the Nigerian Sovereign Bond index, gave the FMDQ visibility for attracting more market activities.
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