Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

4-Traders Homepage  >  Equities  >  STOCK EXCHANGE OF MAURITIUS LTD, THE  >  MCB Group Ltd    MCBG   MU0424N00005

SummaryNewsCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector newsTweets

MCB : The African Development Bank (AfDB) appoints MCB Investment Management as Fund Manager for its first Fixed Income Exchange Traded Fund (ETF) in Africa

share with twitter share with LinkedIn share with facebook
share via e-mail
0
12/09/2016 | 01:27pm CEST

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 -- The African Development Bank (AfDB) (ww.AfDB.org) has appointed MCB Investment Management (MCBIM) (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 in local currencies by facilitating access to local fixed income markets for investors. The ETF will be invested in both government and corporate bonds, and will initially be listed on the Stock Exchange of Mauritius.

MCBIM pioneered this area in early 2013 with the launch of the MCB Africa Bond Fund, an actively managed USD denominated fund that focuses on the local currency bond markets of 13 countries in Africa. The fund has consistently outperformed its benchmark since inception and is up 9.52% in absolute terms this year.

Through this initiative, the AfDB aims to strengthen African economies by reducing their dependency on foreign currency denominated debt

The ADBF was conceived as part of the AfDB's African Financial Markets Initiative (www.AfricanBondMarkets.org) in 2008. Through this initiative, the AfDB aims to strengthen African economies by reducing their dependency on foreign currency denominated debt, increase the range of available financing options and act as a catalyst for regional market integration.

Stefan Nalletamby, the AfDB's Director for Financial Sector Development, commented:

"In developing markets, it is particularly important for the lead institutions to act to reduce financial market impediments and instill local and international investor confidence. AfDB is leading the establishment of the ADBF as a sovereign fixed income ETF investing in different countries which will be the first time an institution of this kind is established in Africa. AfDB is the premier development Bank for Africa and the Bank's leadership in the establishment of ADBF is demonstrable of the Bank providing a local solution to several structural weaknesses."

Rony Lam, Chief Executive Officer of MCB Capital Markets, commented:

"We are privileged to have been selected by the AfDB as Fund Manager for this ground-breaking fund. The ADBF will pave the way for the development of local bond markets in Africa and we are proud to be associated with this important initiative. This demonstrates MCBIM's fund management capabilities and confirms our position as one of the leading Africa fixed income specialist firms."

The ADBF will be managed by MCBIM's Fixed Income team, led by Abhimanyu Yadav.

Distributed by APO on behalf of The Mauritius Commercial Bank Ltd (MCB).

Abhimanyu Yadav, Head of Fixed Income, MCB Investment Management

Download Share

Media Contact:

Abhimanyu Yadav

Head of Fixed Income and Currencies

Tel: +230 202 6036

Email: [email protected]

About MCB Investment Management:

MCB Investment Management (MCBIM) (MCBCapitalMarkets.mu) is a wholly-owned subsidiary of MCB Capital Markets, the investment banking arm of MCB Group, the largest banking group in Mauritius. MCBIM manages assets on behalf of a range of institutional investors including pension funds, corporates, insurance companies and other types of financial institutions. The company has dedicated Fixed Income and Equity teams and is increasingly recognized in the industry for its Africa focused strategies.

.

(c) 2016 M2 COMMUNICATIONS, source M2 PressWIRE

share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on MCB GROUP LTD
10/19 MCB BANK : Board of directors meeting of MCB Bank Limited
10/15 MAURITIUS : Mauritius Commercial Bank found guilty of money laundering
10/03 MCB BANK : Transaction of 45 shares of MCB Bank Limited
10/03 MCB BANK : Dispatch of interim dividend warrants of MCB Bank Limited
10/02 MCB BANK : Transaction of 2,290 shares of MCB Bank Limited
09/29 MCB BANK : Transaction of 5,000 shares of MCB Bank Limited
09/26 MCB : Somaia, Devani in debt row with Mauritius Bank
09/24 MAURITIUS - MAURITIUS COMMERCIAL BAN : Positioned for the long term
09/22 MCB BANK : Transaction of 3,000 shares of MCB Bank Limited
09/16 MCB BANK : Transaction of 50,000 shares of MCB Bank Limited
More news
Financials ( MUR)
Sales 2018 16 836 M
EBIT 2018 9 656 M
Net income 2018 7 549 M
Debt 2018 -
Yield 2018 3,38%
P/E ratio 2018 8,84
P/E ratio 2019 8,09
Capi. / Sales 2018 3,89x
Capi. / Sales 2019 3,63x
Capitalization 65 468 M
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 2
Average target price 278  MUR
Spread / Average Target 1,3%
EPS Revisions
Managers
NameTitle
Pierre-Guy Noël Chief Executive Officer & Executive Director
M. G. Didier Harel Chairman
Kishore Sunil Banymandhub Independent Non-Executive Director
Gilbert Gnany Executive Director & Chief Strategy Officer
Navin Hooloomann Independent Non-Executive Director