DURBAN - First National Bank (FNB) has announced that individual consumers and institutional investors in South Africa will now have an opportunity to own shares from as little as R10 in some of the world’s best performing companies.
The companies include Amazon, Facebook, Apple, Microsoft, Netflix, Tesla, Coca Cola and Alphabet which owns Google.
The announcement follows the listing on the JSE of 10 FNB Exchange Traded Notes (ETNs) which are exchange-traded instruments that provide investors access to a wide variety of wealth creation assets.
The listing allows investors to diversify portfolios to manage risk. Investors will be able to gain access to the shares through FNB’s share trading platform via FNB Online or the FNB App.
Jacques Celliers, FNB CEO said, “We are excited to scale our invest activities by providing our customers and investors at large an opportunity to broaden exposure to wealth creation assets. Through FNB’s platform, customers have the opportunity to access both local and global shares which will allow them to diversify their portfolios during a very challenging time”.
“We are very excited about the opportunities ahead as we continue to build an investment destination of choice for FNB customers and investors at large. In FNB’s recent annual results, we reported that our Wealth and Investments business saw a lift in revenue while the distribution of our solutions into the bank’s customers continued to gain traction. We are looking forward to helping customers on their wealth creation journey through our platform-led strategy,” said Sizwe Nxedlana, CEO of FNB Wealth and Investments and Ashburton.
The 10 Exchange Traded Notes (ETNs) from FNB were listed on the JSE on the 1st of October 2020.
BUSINESS REPORT ONLINE