Exchange-traded Fund Market Cap Hits N20.32bn

In the first quarter of 2021, the market capitalisation of exchange-traded funds listed on Nigerian Exchange Limited has risen to N20.32billion.

According to the NGX quarterly report, it said the trade volumes rose by 3,064 percent from nearly 0.2 million units in Q1 2020 to 5.3 million units recorded in Q1 2021.

The Nigerian Exchange Traded Products and ETF market witnessed a sterling performance since the rise of the COVID-19 pandemic in early 2020, resulting in market capitalisation of the 12 listed securities rising to N20.32billion.

Also, the report showed that the market turnover (value traded) jumped by 4,556 percent between Q1 2020 and Q1 2021.

This is coming despite five of the listed securities were the most active during the period under review.

Breakdown Analysis

NewGold ETF took the lead in both value and volume traded in the ETF space as it traded 3.47 million units valued at N29.63bn.

Vetiva Griffin 30 was next, trading 814,372 units worth N13.94m; Lotus Halal transacted 746,400 units worth N9.95m; Meristem Value ETF sold 163,09 units valued at N2.90m, while Vetiva Banking ETF traded 56,116 units valued at N232,397.

The NGX said over 5.25 million units were traded and valued at N29.66bn in the period under review.

It said foreign participation dominated the ETF market as 92 per cent of foreign investors’ outclassed domestic investors (eight per cent).

Kehinde Ogunyale

Reporting on the data-driven economy, and investigations.

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