Stanbic IBTC ETF Fund Gains 52.9% In 2022 To Close At N104.76 Per Unit
The Stanbic IBTC ETF 30 Fund gained 52.9% in 2022 to close at N104.76 per unit as of 30th December 2022 compared to N68.5 recorded as of the beginning of the year.
NewsBeatng reports that the market capitalization of the fund dipped 3.6% to close at N446.97 million from N463.59 million.
Meanwhile, the NGX-30 index of the Nigerian equities market gained 6.96% in 2022, higher than the 5.01% printed in the previous year.
The Stanbic IBTC ETF 30 Fund is an open-ended fund with the aim of replicating as closely as possible, before fees and expenses the net return of the NGX 30 index.
The Fund seeks to achieve this by investing primarily in securities issued by companies listed in the NGX 30.