Barclays lists ETFs on NSX

Barclays Africa on Friday announced the listing of its NewGold, NewPlat and New Palladium exchange traded funds (ETFs) on the Namibia Stock Exchange (NSX). The initiative gives local investors the opportunity to invest in these metals directly, in Namibia dollar. The listing marks the first time that Barclays Africa has listed its three flagship ETFs simultaneously on one exchange. “Exchange traded funds have not been available to Namibian investors until now on the NSX,” Barclays Africa’s Head of Exchange Traded Products in its Corporate and Investment Banking division, Vladimir Nedeljkovic, said on Friday . “With the listing of NewGold, NewPlat and NewPalladium on the NSX, Barclays Africa is creating a new asset class for Namibian investors while simultaneously increasing the liquidity of the NSX and deepening financial markets in Namibia,” he said. Friday (September 19) marked the first day Namibian investors were allowed to trade in these assets. According to the company, NewGold was first listed on the Johannesburg Stock Exchange in 2004, and since then on multiple stock exchanges across the continent, including Botswana, Nigeria, Ghana and Mauritius. NewGold at present has US$1.5 billion (N$16.5 billion) in assets under management, backed by 40 tonnes of gold bullion. NewPlat ETF was created by Barclays Africa in April last year, in the short span of time since then becoming the largest platinum ETF in the world, and the largest in Africa. It currently holds 36 tonnes of physical platinum bullion underlying the securities in issue, with US$1.6 billion (N$17.6 billion) in assets under management. NewPlat is currently listed in Mauritius as well as in Botswana. As for NewPalladium, the exchange traded fund came into being in March this year, aimed at tracking the price of palladium bullion. It currently has close to US$370 million (N$4.07 billion), backed by close to 14 tonnes of palladium. “ETFs provide investors with a unique opportunity to gain direct exposure to the shifting spot price of a resource like gold, platinum or palladium,” Nedeljkovic said. “ETFs remain among the fastest growing investment funds in major markets across the world. They are attractive because of their low costs, tax efficiency and stock-like features”. WINDHOEK DENVER ISAACS