Net worth of listed mutual funds reaches N1.24tr | The Guardian Nigeria News


The net asset value (NAV) of 56 mutual funds listed on the Nigerian Stock Exchange (NSE) increased from 1,240 billion naira at the end of 2020. This figure represents 88.3% of the total net asset value. in the Nigerian capital market.

Division Head, Listing Business, NSE, Olumide Bolumole, said this during the stock exchange’s digital closing ceremony to commemorate the election of Ms Tope Omojokun as President of the Association of Fund Managers of Nigeria ( FMAN).

According to him, the number of mutual funds registered with the Securities and Exchange Commission (SEC) also increased from 76 in 2019 with a net asset value of 600 billion naira to 102 with a net asset value of more than 1.4 trillion naira. naira in 2020.

Bolumole said the increase in the number of listed funds and value confirms the NSE as the preferred listing destination for the asset class.

He said the NSE will continue to position itself strategically to support the growth of fund managers and stakeholders.

Last year, The Exchange admitted two mutual funds 500,000,000 ARM fixed income funds and ($ 1,000,000) ARM Eurobond funds on its in-memory listing platform.

The exchange has also achieved increased overall efficiency in terms of competitive pricing structures, improved turnaround times, and improved customer experience. As a result, market participants continue to look forward to further listings in the coming months.

At the same time, NSE engaged with issuers of exchange-traded funds (ETFs) in the Nigerian capital market, in line with its commitment to deepen its activities in the segment.

The virtual session highlighted the main areas of market development, particularly in terms of product issuance, market liquidity, regulatory landscape and capacity building.

Speaking at the event, Division Head, Trading Business, NSE, Jude Chiemeka, said: “ETFs are one of the fastest growing capital markets investment vehicles in the world. advanced economies, offering transparency, liquidity, diversification and lower costs.

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