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First National Bank (FNB) says that consumers and institutional investors in South Africa can now own shares as low as R10 in some of the world’s best-performing companies including Amazon, Facebook, Apple, Microsoft, Netflix, Tesla, Coca Cola and Alphabet. who 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-building assets.
The listing offers individual and institutional investors the opportunity to diversify portfolios to manage risk. Investors will be able to access the shares through the FNB share trading platform through FNB Online or the FNB app.
FNB CEO Jacques Celliers said: “We are excited to scale our investment activities by providing our clients and investors in general with an opportunity to expand exposure to wealth-building assets. Through the FNB platform, clients have the opportunity to access both local and global stocks, allowing them to diversify their portfolios during a very challenging time. “
Sizwe Nxedlana, CEO of FNB Wealth and Investments and Ashburton, said: “Global fractional stocks provide an innovative product, specifically designed with financial inclusion in mind. Our goal is to dramatically minimize barriers to entry for individual clients and institutional investors.
“Over the years, we have invested heavily to build platform capabilities in our investment business and this is beginning to manifest itself in solutions that are customer-centric and of value to clients in all income categories. At a time of global uncertainty, investors cannot overlook diversification opportunities, but more importantly, this particular offering means that every individual or institution in South Africa has an equal opportunity to own shares beyond our borders. “.
FNB’s 10 exchange-traded notes (ETNs) were listed on the JSE on October 1, 2020.
Read: Why Tech Stocks Aren’t in a Bubble
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