Vetiva Fund Managers Limited (Vetiva) on October 24, 2016, listed the Vetiva S&P Nigerian Sovereign Bond ETF (“VS&P ETF” or “the Fund”) on The Nigerian Stock Exchange (NSE). The ETF, which is the first Bond ETF to be listed on the NSE, gives investors access to Nigerian Federal Government Bonds in retail lots; thus providing an opportunity for every Nigerian to invest in Federal Government Bonds.
At current pricing, investors will be able to purchase a unit for as low as N127.41 and have access to attractive bond yields.
According to the Managing Director, Vetiva, Mr. Damilola Ajayi, the listing of the Vetiva S&P Exchange Traded Fund is in line with the Federal Government’s plan to enhance financial inclusion. “For the first time in Nigeria, investors now have access to Federal Government bonds through theVetiva S&P Exchange Traded Fund“.
On his part, the CEO of the NSE, Mr. Oscar N. Onyema, OON, commended the Managing Director of Vetiva and his staff on the listing of the first Bond ETF in Nigeria, a move that will enhance the liquidity of the Fund for investors. “This is indeed a major milestone in our quest to broaden and deepen the Nigerian capital market, and to provide investors with diverse investment products, while giving the broker-dealer community an instrument to better service their clientele”.
The listing of the Vetiva S&P Nigerian Sovereign Bond ETF brings the total number of ETFs listed on the Exchange to eight.
Policy flip-flops by the government, dwindling poor corporate results by quoted companies and general downturn in the economy have led to a fall of N2 trillion in the value of the Nigerian equities market within the last one year, THISDAY checks have revealed.
The value of the equities market stood at N11.512 trillion on June 3, 2015 but has dipped to N9.491 trillion as at June 3, 2016 as investors dumped shares on the back of policy inconsistency on the part of government, dwindling oil revenue and general challenging operating environment.
Although the equities market has suffered decline for the past two years, it was expected that the entry of a new administration would reverse the negative trend.
Continue reading Equities Market loses N2tn to policy inconsistency, delays
Despite closing in the red in two of the four days trading, the Nigerian equities market maintained its positive run last week to close the week in the green.
The performance was boosted by the announcement that the MSCI will retain Nigeria in its benchmark frontier market index.
Also, some quoted companies released better-than-expected first quarter results, a development, which excited the market.
Notably, Nestle Nigeria Plc released its first quarter result showing improved performance, result analysts termed, “resilience in turbulent times.”
At the close of trades, the NSE All-Share Index and market capitalisation appreciated by 2.55 per cent to close the week at 25,701.60 and N8.841 trillion respectively.
Similarly, all other Indices finished higher during the week, with the exception of the NSE Insurance Index, that declined by 0.78 per cent.
Continue reading Equities Market Rises 2.5% as Investors Swoop on MSCI Listed Stocks | THISDAY
Total domestic investors’ participation on the Nigerian Stock Exchange, NSE, fell by approximately 17 per cent in the month of March as apathy continues to greet equity investment in the nation’s capital market.
According to figures released by the NSE, weekend at the end of the month of March , domestic investors reduced their stake to N61.87 billion, indicating 63.52 per cent participation from N74.49 billion they committed in the market in February this year. This represents a total decline of 17 per cent during the period. Similarly, foreign portfolio investors’ participation took a downward trend falling from N42.78 billion, representing 36.48 per cent participation to N34.44 billion, which represents 35.76 per cent participation level.
Continue reading Total domestic investors participation on NSE down 17% – Vanguard News
Shareholders of Wema Bank Plc have approved the bank’s bid to either acquire or merge with any financial/non-financial institution to expand its business. They also authorised the bank’s directors to raise additional capital in readiness to pursue the acquisition plan.
The shareholders gave the approval at the bank’s Annual General Meeting, AGM, in Lagos. Addressing shareholders at the meeting, the Chairman, Mr. Adeyinka Asekun, explained that the approval for the capital raising exercise would allow the bank to take advantage of any merger/acquisition opportunity that may arise in the course of the year. He explained that the bank would seek strategic partnerships with during the year, adding that it commenced relationship with key players in various business segments and the relationships are expected to add value to the bank in terms of brand equity and bottomline.
Continue reading Shareholders approve Wema Bank’s acquisition, merger bid – Vanguard News
Apple Inc on Tuesday posted its first-ever decline in iPhone sales and its first revenue drop in 13 years as the company credited with inventing the smartphone struggles with an increasingly saturated market.
The company’s sales dropped by more than a quarter in China, its most important market after the United States, and it also forecast another disappointing quarter for global revenues.
Its shares fell about 8 percent, dropping below $100 for the first time since February. A hike in Apple’s share buyback and dividend as well as bumper revenue from services failed to mollify investors.
Continue reading First dip in iPhone sales, Apple revenue streak ends
The Nigerian Stock Exchange (NSE) and
African Securities Exchanges Association
(ASEA) would co-host the 5th Building African
Financial Markets (BAFM) seminar.
The seminar holding for the firs time outside
South Africa, is tagged – ‘Addressing
Liquidity Concerns in African Capital Market’
and would be held between April 28 and 29
while the ASEA Executive Board meeting holds
on the 30th of next month.
Continue reading NSE, ASEA Host 5th
United Bank for Africa Plc, in its audited full year results for the year ended December 31, 2015,
released to the Nigerian Stock Exchange on Monday, recorded a 25 per cent growth in its profit after tax to N60bn; translating to a 20 percent return on average equity.
The bank recorded a 10 per cent growth in gross earnings, closing at N315bn.
The pan-African financial services group with operations in 19 African countries also grew its operating income by 10 per cent to N205bn in December 2015; from N186bn in December 2014.
The board, according to a statement by the bank,
is proposing a final dividend of 40 kobo per share. This brings to 60 kobo the total dividend for the 2015 financial year. UBA had earlier paid an interim dividend of 20 kobo per share, following the audit of its 2015 half year results.
Continue reading UBA Declares N60bn Profit in 2015.
Guaranty Trust Bank (GTB) Plc, Nigeria’s most capitalised banking stock and fourth most capitalised quoted company, yesterday
announced its audited earnings report for the year ended December 31, 2015, showing growth across key top-line and profitability items.
Key extracts of the audited report and accounts for the year ended December 31, 2015 showed
that gross earnings rose by 8.4 per cent to N301.9 billion in 2015 as against N278.5 billion in 2014. Group profit before tax also rose by
3.7 per cent from N116.4 billion in 2014 to N120.7billion in 2015. Profit after tax increased from N94.43 billion in 2014 to N99.44 billion.
The board of directors of the bank has recommended final dividend of N44.74 billion to shareholders, bringing total dividend for the
2015 business year to N52.1 billion.
Continue reading GTB Declares N121bn Pre-Tax Profits, N52bn Dividends.