Another ETF lists on ZSE

BUSINESS REPORTER

 

Morgan & Co  on Monday launched its exchange traded fund with the listing of the Multi-sector Exchange Traded Fund (ETF) on the Zimbabwe Stock Exchange (ZSE), Business Times can report.

 

This brings to two the number of ETFs on ZSE following that of the Old Mutual Top 10 ETF lauched last year.

ETFs are traded like normal equities but their price varies depending  on the price of underlying assets as they tracks a number of counters on the ZSE.

 

Speaking at the listing ceremony, the Securities and Exchange Commission of Zimbabwe (SECZim) CEO, Tafadzwa Chinamo said SECZim want to deepen the market and getting more people involved.

 

“There are a lot of innovations and want to make the market as accessible to  everyone with as much ease as possible and ETFs are part of that,” Chinamo said.

 

Dr Solomon Guramatunhu, who also spoke at the event said investing and saving was critical for a developing economy like Zimbabwe.

 

“The Morgan & Co Multi -Sector ETF has therefore been established to serve as an effective mechanism for investing  and saving,” he said.

 

Morgan &Co head of research, Batanai Matsika was optimistic about the ETF’s prospects.

“The ETF is a cheaper way of getting access to a wider range of stocks and sectors.

It  makes it a very relevant product for retail as well as institutional investors,” Matsika said.

 

 

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