Nyashadzashe Ndoro
The future of the Old Mutual Zimbabwe Stock Exchange Top Ten Exchange Traded Fund is uncertain due to changes in the underlying index.
In a cautionary statement released on Wednesday, the Fund’s Trustee (Stanbic Bank Zimbabwe Limited) and Fund Manager (Old Mutual Investment Group Zimbabwe (Private) Limited) advised unitholders and the public to exercise caution when dealing in the ETF.
The statement highlights “considerations underway” that could significantly impact the ETF due to the evolving composition of the index it tracks.
While specific details on the considerations are not available, the cautionary statement advises investors to consult with professional financial advisors before buying or selling units of the ETF.
“Unitholders and members of the public are therefore being advised to exercise caution and to consult their professional advisors when dealing in the units of the ETF. The unitholders and members of the public will be updated on the matter in accordance with the Zimbabwe Stock Exchange Listing Rules,” read the statement by the Fund Manager, Marjorie Mayida.
The Fund Manager and Trustee are expected to provide further updates in accordance with the Zimbabwe Stock Exchange Listing Rules.
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