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Business Writer
Morgan and Co has increased the number of units of the Morgan and Co Multi Sector Exchange Traded Fund (MCMS.zw) by 2 745 099 to bring the total units issued and listed on the ZSE to 128 673 068 effective January 18, 2022.
Justin Bgoni, the Zimbabwe Stock Exchange chief executive, said the net asset value (NAV) per unit of the ETF as of January 19, 2022 was $11,18.
However, it is currently trading at $13,27 per unit which is a premium price to its $11,18.
Morgan and Co listed the multi-sector ETF on the ZSE on January 3, 2021.
The group’s ETF is actively managed based on continuous decision-making on the underlying portfolio instead of tracking a benchmark index.
ETFs are a basket of different forms of investments including shares, commodities, and bonds that are combined into a single unit which then offers shares to investors that are subsequently traded on major stock exchanges.
ETFs invest in banks, real estate-related firms, insurance and reinsurance, industrial and non-industrial companies as well as financial holdings companies
Bongani Ndlovu