The Nigerian Stock Exchange (NSE) and Meristem Securities Limited, a leading capital market conglomerate, have launched two new style indices, the NSE-Meristem Growth Index and NSE-Meristem Value Index.
The style indices were designed in response to demand for customised indices to support product development and investment management.
Broadly, the style indices will provide a benchmark for the market to gauge the performance of value stocks and growth stocks listed on the exchange.
OVER 5,000 NIGERIAN MEN HAVE OVERCOME POOR BEDROOM PERFORMANCE SYNDROME DUE TO THIS BRILLIANT DISCOVERY
A joint statement from NSE and Meristem indicated that the indices would be available on NSE’s website from March 12, 2019.
The Divisional Head, Trading Business Division of NSE, Mr. Jude Chiemeka, explained that the introduction of the NSE-Meristem Growth and NSE-Meristem Value Indices is a laudable and innovative effort long overdue.
“These indices provide products strategists and asset managers the leverage to create investment vehicles that democratise professional asset management for the benefit of investors, while still following the tenets of classic investment philosophies: growth and value.
“The indices are available for licensing and the investing public is encouraged to take advantage of the benefits they provide,” Chiemeka said.
The Group Head, Investment Research, Meristem Securities Limited, Mrs. Oluwakemi Akinde, said the indices are benchmarks to track the performance of growth and value stocks that are traded on the floor of the NSE.
It would contribute to the deepening of the equity capital market by providing a leverage for fund managers to build investment products, she added.