The Nigeria Exchange Limited has said foreign transactions in Exchange Traded Funds grew by 99.64 per cent with 10 brokers driving 99.90 per cent of total transaction value in the second quarter of 2021.
According to a statement from the NGX, 97.30 per cent of the total volumes of ETFs in Q2 2021 was also driven by the ten stock brokers.
NGX said, “The NGX quarterly report for Q2 2021 as at June 30, 2021, revealed that NewGold emerged as one of the most active ETFs with its value rising by 99.58 per cent to N4.41 billion, taking the lead in both value and volume traded in the ETF space as it traded 524.24 units valued at N4.41 billion.
“Vetiva Griffin 30 was next, trading 501,48 units worth N8.12 million, Vetiva Industrial Goods transacted 248,469 units worth N4.52million, Meristem Value ETF sold 115,58 units valued at N1.87million while Stanbic IBTC ETF traded 19,774 units valued at N1.48million.”
The NGX also revealed that further analysis of the report showed that Rencap led brokers in terms of performance by value just as the broker retained the top position in the category having traded 69.70 per cent.
RMB followed, accounting for 12.72 per cent while ABSA Securities recorded 9.04 per cent of the total transactions.