Offer for Subscription of 100,000,000 Units of VETIVA GRIFFIN 30 ETF Securities

 Tuesday, January 14, 2014 9:05 AM / Cordros Capital

Highlight:

At a unit price equal to 1/100th of the value of the NSE 30 Index on the day preceeding the subscription

Profile: 

Fund Manager:       Vetiva Fund Managers Limited 

Fund Sponsor:        Vetiva Capital Management Limited

Issuing House:         Cordros Capital Limited

Trustee of the Fund: Union Trustees Limited

Custodian:                 UBA Plc (Global Investors Services) (UBA GIS)

Authorised Dealer: Vetiva Securities Limited

The Offer:                 100,000,000 Units of Vetiva Griffin 30 ETF Securities.  

Subscription Method: Offer for Subscription on a "Securities for Units" basis i.e investor will deliver a portfolio of securities of the NSE 30 Index constituent companies, in exchange for units in the VG 30 ETF.

Issue Price:              At a unit price equal to 1/100th of the value of the NSE 30 Index on the day preceding the Subscription. 

Minimum Subscription Limit: Applications must be made for a minimum of 5,000,000 Units (i.e a block or 50 baskets of Vetiva Griffin 30 ETF Securities). Applications for more than 5,000,000 Units must be in multiples of 100,000 units

Index to be Tracked: NSE 30 Index

Policy on Investment Income: investment income earned will be distributed to unit holders semi-annually less expenses

Status:                       The units being offered shall rank pari-passu in all respects with other future units

Opening Date:          13^th January, 2014

Closing Date:            31^st January, 2014

Benefits of investing in The Vetiva Griffin 30 ETF

·     Diversification: The ETF will serve as an important diversification tool for pension fund administrators, funds of funds, individual investors, foreign investors and all portfolio managers, amongst others who seek to profitably invest in the Nigerian equities markets.

·     Professional Management: The Fund will offer investors the opportunity to gain from a professional portfolio management and advisory team with experience in successfully managing investment portfolios similar to the Fund through different market cycles.

·       Accessibility: The ETF Securities confer on the Unit holder of one security a proportionate share in the economic benefits of all of the securities issued by the constituent companies comprising the Index. The Vetiva Griffin 30 ETF securities are attractive to professional investors, providing a useful asset allocation and cash management tool.

·     Excellent Fund Structure: The structure of the Fund shall promote good governance, enhanced investor protection and successful investment outcomes. The Fund structure separates investment decision making functions from asset custody, in line with recommended best practice.

·         Economies of Scale: The Fund Manager aims to use the advantage of the Fund size and the platform of the Fund Sponsor to reduce transaction costs and consequently enhance portfolio returns.

·       Liquidity: The Vetiva Griffin 30 ETF is a fast, liquid, convenient and cost-effective way to invest in the NSE 30 Index, as a single security purchase gives exposure to the index.

For more information on the Fund, please click the link VETIVA GRIFFIN 30 ETF to view the prospectus.