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NSE ETF Market Capitalization Loses 2.6% in One Month

By Dipo Olowookere

The total value of Exchange-Traded Fund (ETF) listed on the Nigerian Stock Exchange (NSE) depreciated by 2.6 percent in the month of May 2018 when compared with the value in the month of April 2018.

The NSE ETF market capitalization, which stood at N7.63 billion in April, finished at N7.43 billion last month.

However, the Year-To-Date (YTD) returns recorded an increase of 11.12 percent with the ETF market recording net inflows in the period under review as additional units of the Vetiva Banking ETF securities were created bringing total year-to-date inflows for the year 2018 to N 124.2 million.

Business Post reports that the Total Transaction Value (TTV) on the ETF board dropped by 31.54 percent from April TTV of 15.2 million, while the total volume traded however appreciated by 34.18 percent indicative of increased trades on lower priced ETFs.

During the month, the Vetiva Banking ETF led the value board this with N6.1 million in trade values constituting 58.86 percent of TTV, whilst The Vetiva S & P Nigerian Sovereign Bond ETF and Vetiva Consumer Goods ETF followed with 23.15 percent and 10.48 percent respectively.

The Vetiva Banking ETF also dominated the volume board representing 87.29 percent of total trade volumes while the Vetiva Consumer Goods ETF, Vetiva Griffin ETF and Vetiva S & P Sovereign Bond ETF trailed behind posting trades representing 8.54 percent, 2.87 percent and 1.12 percent of total trade volumes respectively.

It was observed that overall market performance was largely bearish in the month of May as seen in the performance of all the benchmark indices and assets.

Dipo Olowookere is a journalist based in Nigeria that has passion for reporting business news stories. At his leisure time, he watches football and supports 3SC of Ibadan. Mr Olowookere can be reached via dipo.olowookere@businesspost.ng

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