The African Development Bank (AfDB) appoints MCB Investment Management as Fund Manager for its first Fixed Income Exchange Traded Fund (ETF) in Africa
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The ETF will be invested in both government and corporate bonds, and will initially be listed on the Stock Exchange of Mauritius PORT LOUIS, Mauritius, December 9, 2016/ — The African Development Bank (AfDB) (www.AfDB.org) has appointed MCB Investment Management (MCBIM) (www.MCBCapitalMarkets.mu), a subsidiary of MCB Capital Markets, as Fund Manager for its first multi-jurisdictional Fixed Income Exchange Traded Fund (ETF) in Africa. The Board of Directors of the AfDB has also approved a seed equity capital investment of USD 25 million for the ADBF. The primary objective of the African Domestic Bond ETF (ADBF) is to encourage bond issuance...