NewGold, NewPlat, and NewPalladium to list on NSX on 19 September 2014
Barclays Africa today announced the listing of its NewGold, NewPlat and NewPalladium exchange traded funds (ETF) on the Namibia Stock Exchange (NSX), providing investors in Namibia with a new type of investment opportunity, and the chance to invest directly in these precious metals in Namibian dollars. The listing marks the first time that Barclays Africa has listed its three flagship ETFs simultaneously on one exchange.
"Exchange traded funds have not been available to Namibian investors until now on the NSX. With the listing of NewGold, NewPlat and NewPalladium on the NSX, Barclays Africa is creating a new asset class for Namibian investors while simultaneously increasing the liquidity of the NSX and deepening financial markets in Namibia," said Vladimir Nedeljkovic, Head of Exchange Traded Products at the Corporate and Investment Banking division of Barclays Africa.
NewGold, NewPlat and NewPalladium have been granted local asset status allowing investors to access a local investment while enjoying the benefits of ETFs. The first day that Namibian investors will be able to trade in these new assets will be Friday, 19 September 2014.
NewGold was first listed on the Johannesburg Stock Exchange in 2004 and since then on multiple stock exchanges across Africa including Botswana, Nigeria, Ghana and Mauritius. It currently has USD 1.5bn in assets under management, backed by 40 tonnes of gold bullion.
In April 2013, Barclays Africa created the NewPlat ETF. Within the space of a year, it became the largest platinum ETF in the world, and the largest ETF in Africa. Currently it holds 36 tonnes of physical platinum bullion underlying the securities in issue, with USD 1.6bn in assets under management. NewPlat is listed in Mauritius and was also recently listed in Botswana.
NewPalladium was created in March 2014 to track the price of palladium bullion. NewPalladium currently has almost USD370m in assets, backed by close to 14 tonnes of palladium. Namibia will be the third listing of NewPalladium.
"ETFs provide investors with a unique opportunity to gain direct exposure to the shifting spot price of a resource like gold, platinum or palladium. ETFs remain among the fastest growing investment funds in major markets across the world. They are attractive because of their low costs, tax efficiency and stock-like features," concludes Nedeljkovic.
About Corporate and Investment Banking at Barclays Africa:
The Corporate and Investment Banking division from Barclays Africa is a leading 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
To find out more visit http://www.cib.barclaysafrica.com/
About Exchange Traded Funds from Barclays Africa:
The Corporate and Investment Banking division of Barclays Africa is a leading originator of exchange traded funds (ETFs) in the South African market, and has 55% of the market share based on assets under management.
To find out more visit please etf.absacapital.com