Merrill Lynch gets bullish about Lions in Africa
Merrill Lynch has launched two Africa Lions Index certificates, linked to stocks with exposure to more than 15 African countries, allowing investors to choose from an open-ended tracker certificate and a five-year 90% protected certificate. The certificates will be listed on several European exchanges including Stuttgart Freiverkehr (Euwax), Frankfurt Freiverkehr, SWX Swiss Exchange, Euronext Paris and Euronext Amsterdam.
“We have confidence in the African equity story and are proud to launch this ground-breaking product on MerrillINVEST, our securitised products platform,” says Pierre Mendelsohn, head of Securitised Products, EMEA at Merrill.
The underlying Merrill Lynch Africa Lions Index comprises 35 stocks, including locally listed Nigerian companies, and will re-balance every six months while cappiing exposure to South Africa at 10%.
The case for Africa rests on six observations from Merrill: Africa’s economic
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