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This Nigerian ETF is one of the best performing investments in the country

Posted by on August 2nd, 2020


A total of 27 stocks out of 165 ended the last week in July with gains. The stock market squeezed out a 0.88% gain in July as the earnings season and economic uncertainty weighted down on stocks.

However, one equity stood tall among the rest as the best performer this week and second-best in July. It is also one of the best equities this year having gained over 60%.

The equity is New Gold ETF an exchange-traded fund listed on the Nigerian Stock Exchange. It gained 17.4% last week alone and 27.5 in July month to date.

What is New Gold ETF? This is an exchange-traded fund managed by Vetiva Securities.

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Why is it hot? Not clear what is driving demand however, we believe the uncertainty in the economy and the limited viable investment options is driving smart money towards this ETF.

 

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