THE Old Mutual (OM) Exchange Traded Fund’s (ETF) year-to-date returns closed July at 100 percent, 17 percentage points behind its benchmark — the Zimbabwe Stock Exchange (ZSE) Top 10 Index.
An ETF is a security that tracks another asset, index, sector or commodity, but which can be purchased or sold on an exchange the same as a regular stock.
The country’s first ETF, which was introduced last December, had outpaced its benchmark since January when it listed on the ZSE.
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The Old Mutual Investment Group Zimbabwe-sponsored instrument gained 93 percent during the first quarter of 2021, compared to the ZSE Top Ten Index’s returns of 57 percent during the same
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