Online Reporter
Nelson Gahadza
First Mutual Wealth Management (FMWM) says its proposed US dollar-denominated exchange traded fund (ETF) will launch with an initial net asset value of US$10 million, targeting a listing on 8 May 2026.
According to a published prospectus, the fund is designed to provide offshore gold exposure through a single security listed on the Victoria Falls Stock Exchange (VFEX).
“The fund is intended to provide investment returns that, before fees and expenses, closely correspond to the combined weighted performance of the JSE-listed Invest Gold ETF and four JSE-listed gold mining companies, as prescribed from time to time by the manager,” reads part of the prospectus.
FMWM said the underlying portfolio will target a 50 percent allocation to a gold commodity ETF (Invest Gold ETF) and 50 percent exposure to four blue-chip gold mining equities, each weighted at 12,5 percent.
