Investors in the Nigerian Exchange (NGX) are walking a tightrope as a structural disconnect sends Exchange Traded Funds (ETFs) soaring to over 100 percent returns, despite the underlying stocks/ indexes performing much lower. The NGX 30 index is up by 12.62 percent year-to-date, while the Stanbic IBTC ETF 30 (STANBICETF30), which tracks it, has done +497 percent, respectively. The Stanbic IBTC ETF 30 was selling at N1066 per share at the start of the year and was selling for N6367.24 per share on Tuesday, according to data from Investing.
Investors in the Nigerian Exchange (NGX) are walking a tightrope as a structural disconnect sends Exchange Traded Funds (ETFs) soaring to over 100 percent returns, despite the underlying stocks/ indexes performing much lower. The NGX 30 index is up by 12.62 percent year-to-date, while the Stanbic IBTC ETF 30 (STANBICETF30), which tracks it, has done +497 percent, respectively. The Stanbic IBTC ETF 30 was selling at N1066 per share at the start of the year and was selling for N6367.24 per share on Tuesday, according to data from Investing.