Absa Capital, the corporate and investment banking division of Absa Bank Ltd and affiliated with Barclays, today listed the first ever Exchange Traded Fund (ETF) on the Ghana Stock Exchange (GSE), making it the fourth African bourse to list the NewGold ETF after South Africa, Botswana and Nigeria. Four hundred thousand NewGold shares were listed on the GSE.
NewGold, Africa’s largest ETF, is the best performing ETF on the continent over five years, with a return of 22.55% per year, a two year return of 24.76% and a return over three years of 21.66%. As at 1 August 2012, NewGold’s assets under management were USD2.15bn.
“The introduction of Exchange Traded Funds to the GSE offers both individual and institutional investors a cost efficient and convenient way to invest in multiple shares or other assets, such as commodities, through a single security,” said Dr Vladimir Nedeljkovic, Head of Investments at Absa Capital.
“We have been encouraged by the success of the NewGold ETF in the African markets where it has been listed. Africa is an exciting proposition for this product and we will continue to explore opportunities across the continent,” said Nedeljkovic.
NewGold is the only gold-backed ETF on the continent and is a simple and cost effective way of investing directly in physical gold bullion through a GSE listed share.
The listing is in line with Absa Capital’s overall strategy to expand its suite of products and services in sub-Saharan Africa.
NewGold’s primary listing is on the Johannesburg Stock Exchange.
Note to the editor:
About Absa Capital
Absa Capital, a division of Absa Bank Limited (Absa) and affiliated to Barclays, is a leading South African corporate and investment bank with global reach, offering clients financing, risk management and advisory solutions in a wide range of currencies and structures across the globe.
About Absa Capital ETFs and Index Products
Absa Capital is a leading originator of exchange traded funds (ETFs) in the South African market, and has 48% of the market share based on assets under management. The investment bank has listed and operates 10 ETFs. To find out more please visit www.absacapitaletfs.com
+27 11 214 2410
+27 82 775 4810
For further information contact:
Dr Vladimir Nedeljkovic
Head of Investments
+27 11 895 5367
Marketing and Corporate Communications
+27 11 895 6695
+27 79 695 9798