Zimbabwe’s largest brewer, Delta Corporation Limited, inched to the top of the Old Mutual Zimbabwe Stock Exchange (ZSE) Top 10 Exchange Traded Fund (ETF) in the quarter to September 30 2021, Business Times can report.
Delta traded 21.15% of the total shares transacted on the platform in the reviewed period.
The total amount traded on the ETF, which offers exposure to ZSE Top 10 counters, hit ZWL$680bn in the reviewed quarter.
“Delta was the top performer with ZWL$143.8bn which represented 21.15%. Econet was second best with ZWL$134.7bn, representing 19.8% and Meikles completing the Top 10 with ZWL$29.2bn representing 4.3%,” reads part of a statement from Old Mutual Investment Group of Zimbabwe.
The ETF, which is the first such financial instrument in Zimbabwe, was launched in January this year.
Investors get an opportunity to own 10 underlying stocks in one investment in the ETF.
This means the financial instrument, which is as liquid as underlying financial assets, has improved liquidity, diversified the current investment offerings at the local bourse and deepened the market.