Zimbabwe’s fourth ETF launches today

MORGAN & CO, a local investment bank, is set to launch the country’s fourth Exchange Traded Fund (ETF) today.
ETFs are managed funds that track the performance of a specified security, which include, but are not limited to equity indices, commodities and currencies.
This fund will run under the theme “Made In Zimbabwe” and according to Morgan & Co, which introduced another ETF in January, it is set to be largely constituted by manufacturing companies listed on the Zimbabwe Stock Exchange, with exposure to other non-manufacturing counters.

“The fund will be an actively managed fund with the objective of providing superior returns,” the firm said in a statement. “The active management aspect is based on continuously making decisions on the underlying portfolio instead of tracking the performance of a benchmark in