Interest heightened as historic ETF lists

source: Mmegi
MBONGENI MGUNI
Staff Writer

Investors snapped up 18, 225 gold-backed securities in a frenzied period of trading yesterday morning as the Botswana Stock Exchange (BSE)’s inaugural Exchange Traded Fund listed.

Absa Capital, the Exchange Traded Fund (ETF)’s originator, listed 1.6 million gold securities on the BSE yesterday morning, with each security equivalent to one one-hundredth of a gold ounce.

The gold ETF, also known as NewGold, tracks the performance of the gold price in pula terms and allows individual and institutional investors to trade in it in a similar manner to equities’ trading.

Absa Capital first listed the NewGold ETF on [continue reading]

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