Absa Capital, the South African investment banking division of Absa Bank, is launching a multi-asset exchange-traded fund (ETF), BusinessLIVE reports. The fund, Growth and Protect NewFunds Multi-Asset Passive Portfolio Solutions, will be listed on the Johannesburg Stock Exchange. The ETF will allow investors to invest in and passively track the performance of a portfolio of equities, government nominal bonds, government inflation bonds and cash through the purchase of a single ETF. The fund combines all the benefits of unit trusts with the low cost, ease of purchase and instant pricing benefits of ETFs.
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