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First Bank Money Market Funds Listed On NSE

By on December 31, 2012

The Nigerian Stock Exchange has admitted First Bank Money Market Funds into its Daily Official List (DOL).

The NSE stated in its report for DEcember 28th, 2012, that a total of 17,984,400 units of the fund were admitted at N100 each at par.

Also, 1,752,200 units of N1, 000 at par of the FBN Fixed Income Fund were also admitted into the memorandum quotations segment of the DOL.

In related news, analysts are excited about the performance of the bourse in 2012 and optimistic that the NSE will reach greater heights in 2013.

According to a report from Vetiva Capital, “The NSE held just three trading sessions, due to the Christmas holidays. Though with thin volume and concentrated gains in a few counters, the market surged by almost 170 per cent last week to compound returns for the Index this year at 34.42 per cent.

“Following this year’s feat, the market benchmark is back to its 2009 levels, sending strong signals of a sustainable recovery. We therefore maintain our views that the search for gains will further put emerging and frontier markets such as Nigeria in the spotlight, with expectation of another good year in 2013. Thus, the NSE should open on a soft positive note with concentration on the financial and consumer goods sector.”