The Nigerian Stock Exchange (NSE) has emerged the second largest Exchange Traded Fund (ETF) market in Africa with current market capitalisation of N6.9 billion.
NSE Chief Executive Officer, Oscar Onyema, stated this on Friday at the Smart Investment Workshop themed, “Using Exchange Traded Funds (ETFs) as a Proxy for Investing in Nigerian Equities” in Lagos.
ETFs are securities that closely resemble index funds, but can be bought and sold during the day just like common stocks.
These investment vehicles allow investors a convenient way to purchase a broad basket of securities in a single transaction.
Mr Onyema said from a single ETF tracking the price of Gold in 2011, the market has deepened with 10 ETFs currently offering exposure to equities, fixed income, commodities and…