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Meristem launches N1bn ETF offer for subscription

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By Nkiruka Nnorom

Stock exchange

MERISTEM Wealth Management Limited has launched a N1 billion offer for subscription on two Exchange Traded Funds (ETFs) namely, Meristem Growth ETF and Meristem Value ETF.

The two ETFs track the NSE-Meristem Growth Index and NSE-Meristem Value Index respectively.

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The Meristem ETF offer for subscription opened on February 25, 2020 and will close on April 2, 2020 and offers 50 million units each of the Meristem Growth ETF and the Meristem value ETF at N10 per unit.

The ETFs, according to the firm, are style-indices, which provide investors with a wide array of diversified stocks, professionally selected after satisfying the criteria and would be managed by dedicated fund managers.

Sulaiman Adedokun, Managing Director, Meristem Wealth Management, said: “As a company, Meristem is constantly seeking new and innovative ways to create wealth opportunities for clients.”

e further stated that the Meristem Growth ETF is designed to track growth stocks, while the Meristem Value ETF tracks value stocks, saying: “This strategy avails investors a dual purpose, with an investment style that allows them to meet specific needs using abroad product portfolio.
“The Meristem ETF can be described the ‘Jack of the Trade’ as it offers investors opportunities to achieve their investment desires in the equity market while shielding them from excessive risk. The indices being tracked by the ETFs are reviewed semi-annually to ensure that all the stocks selected under each index keep delivering on their promise.”

Commenting, Taiwo Yusuf, Head, Meristem Asset Management, said: “All ETFs earn the underlying dividends of its constituent stocks and the dividends are paid net of all fees”.

Damilola Hassan, Head, Wealth Management, Meristem, said: “The Meristem ETFs offer hassle-free and cost-effective investment option to investors. With a minimum of N10,000, investors can have access to a wide range of stocks across different sectors including banking, industrial goods, conglomerate, agricultural sectors and a host of others that meet their investment style criteria.

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