Made in Zim ETF starts strong

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MORGAN & CO’s Made in Zimbabwe Exchange Traded Fund (ETF) gained 18 percent during its first week of trading.
This was despite a sustained slump on the Zimbabwe Stock Exchange (ZSE), where the fund is quoted. The ETF, which is constituted of manufacturing companies listed on the ZSE, was launched on June 16 and started trading the next day at $1 per unit.

By June 24, its price had soared to $1,1801. ETFs are managed funds that track the performance of a specified security which include, but are not limited to equity indices, commodities and currencies.