The Capital Markets Authority (CMA) has approved the listing of the WSA Banking Index Exchange Traded Fund (ETF) on the Nairobi Securities Exchange (NSE), expanding the range of investment products available to Kenyan investors.
The approval brings the number of ETFs listed on the NSE to three, alongside the Absa NewGold ETF and the Satrix MSCI World Feeder ETF.
Issued by Wallstreet Africa Group Limited, the WSA Banking Index ETF is the first locally domiciled ETF to be listed on the NSE. The fund will provide investors with exposure to a diversified portfolio of listed banking sector equities.
The ETF will seek to replicate the performance of the NSE Banking Index by investing in its constituent banking shares. Tradiam Asset Managers Limited will serve as the Fund Manager in partnership with Wall Street Africa.
The CMA said the new product supports efforts to encourage investment product innovation, expand portfolio diversification opportunities and deepen Kenya’s capital markets.
The listing adds another investment vehicle for investors seeking exposure to Kenya’s banking sector while broadening the range of locally developed products available through the country’s capital markets.
