Latest data from the Nairobi Securities Exchange reveals that the New Gold ETF achieved an all-time high turnover of Ksh66 million on Monday 30 March. The overall turnover in the day was Ksh 804 million with the Gold ETF contributing 8.15%.
The NewGold issuer (RF) Ltd, a subsidiary of South Africa’s ABSA, became the first ETF issued in East Africa in 2017.
READ; How to invest in the Barclays NewGold ETF
ETFs are a type of listed open-ended index or unit instrument bought or sold on a securities exchange. The index or unit may be composed of ordinary stocks, bonds, commodities, futures or a combination of real assets with the objective of allowing for exposure to a portfolio of securities, assets or indices whose price movement is in tandem with the price movement of the constituent underlying securities or commodities. An ETF can be a domestic or offshore product.
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