FirstRand Bank ETN listed on NSX
The FirstRand Bank Limited Exchange Traded Note (ETN) programme has been dual-listed on the Namibian Stock Exchange (NSX), FNB Namibia said yesterday.The ten listed instruments will provide ordinary Namibians the ability to invest in quality international companies like Amazon, Berkshire Hathaway and Microsoft for as little as N$10.
The ETN note programme makes use of the concept of micro investing, thus promoting financial inclusion, FNB Namibia said in a statement.
“Because the programme is listed on the NSX, the ETNs may be purchased directly through your local NSX stockbroker without the need of complex offshore account opening process which requires large investment amounts.
“Each ETN represents a fractional share in each of the companies listed and provides full protection against any currency depreciation of the Namibia Dollar – i.e. it is like owning the share directly offshore just in a more affordable and accessible manner,” it said.
MSCI
In addition to the eight quality international companies, there is also an ETN that provides exposure to the iShare core MSCI World Index. This index provides exposure to more than 1 500 of the world’s largest companies across more than 20 countries.
“This provides investors in Namibia with a unique opportunity to ensure that the offshore component of their investment portfolio is fully diversified – the iShares fund is managed by BlackRock – the world’s largest portfolio manager,” FNB Namibia said.
Another widely diversified index being provided is the MSCI Socially Responsible Investment Index.
This ETN is ideal for the ESG conscious investor as the index seeks to overweight global companies with good environmental and social scores, while not investing in controversial investments like weapons manufacturing.
The index provides global diversification to more than 400 companies and is managed by UBS.