Vetiva Fund Managers Limited on Wednesday announced that an interim dividend of 10 Kobo per unit of the Vetiva Griffin 30 Exchange Traded Fund would be paid to unit holders.
The company said in a statement that only unit holders whose names appeared in the register of unit holders of the VG30 ETF as at the close of business on Thursday would be paid.
The statement quoted the Managing Director of Vetiva Fund Managers Limited, Mr. Damilola Ajayi, as saying, “The interim distribution is in line with the structure of the VG30 ETF and the fund is designed, as indicated in the fund prospectus and trust deed, to pay distributions twice a year.”
According to Ajayi, the Vetiva Griffin 30 Exchange Traded Fund represents a convenient and efficient way by investors to have access to the top 30 most capitalised and liquid stocks on the Nigerian Stock Exchange, both from a potential capital appreciation and distribution income points of view.
The VG30 ETF is the first and only equity-based ETF to be listed on the Nigerian Stock Exchange following the listing of the Newgold Exchange Traded Fund (a commodity-based ETF) in 2011 (in which Vetiva Securities Limited acted as a sponsoring broker), the statement explained.
It added, “The Exchange Traded Fund tracks the price and yield performance of the NSE 30 Index (an index of the 30 most capitalised and liquid stocks listed on the Nigerian Stock Exchange).”
Listed in March 2014, the VG30 ETF fact sheet obtained from the fund website showed that the fund had achieved a capital appreciation of 10.77 per cent as of June 27, 2014.
Vetiva Fund Managers Limited is a wholly-owned subsidiary of Vetiva Capital Management Limited andis registered with the Securities and Exchange Commission to carry out business as fund/portfolio manager.