The Financial Securities Exchange (FINSEC) has admitted Property X, as a quoted security, on its Mutual Funds Board, widening the spectrum of investment options in Zimbabwe.
The mutual funds and alternatives market admits, lists and facilitates trading of Exchange Traded Funds (ETFs), Unit Trusts and Real Estate Investments Trusts REITs.
This widens the investor's choice beyond company stocks and various forms of the money market investments in Zimbabwe.
FINSEC said Property X, which is managed by Southpeople Capital Asset Management, gives a unique opportunity to potential investors to invest in property development or projects and earn towards establishing their own separate properties.
"FINSEC announces the admission of Property X as a quoted security on the Mutual Fund Board. The fund provides access to a 'pay-as-you-go' property acquisition option to both individuals and institutional investors for optimal deployment of their financial resources as and when they become available.
"This involves the fund buying into property development projects including buying land property for further development," said the securities exchange.
Investors can buy Property X units on FINSEC via C-Trade, an automated trading platform that enables investors both local and foreign to buy securities from anywhere in the world anytime, using mobile devices.
Investors have the option to redeem their units as cash or as a completed unit of property equivalent to the value of their units.
Sign up for free AllAfrica Newsletters
Get the latest in African news delivered straight to your inbox
"Using the C-Trade platform will also promote financial inclusion as it allows simplified participation by retail investors. The minimum investable amount is US$10 with no maximum limit," said FINSEC.
Few years ago, FINSEC, an alternative trading platform, set up private and derivatives markets to provide further investment options to investors.
Derivatives are financial instruments that derive their value from an underlying asset such as equities, hard or soft commodities or from a group of assets.
The most common underlying assets for derivatives are stocks, bonds, commodities, currencies, interest rates and market indexes.
The FINSEC private market is a private funding platform for businesses at every stage of their development -- this follows overwhelming demand for private debt and private equity funding on the exchange's Growth Enterprise Market (GEM Portal), which was launched in 2019.
Meanwhile, the Investor Protection Fund surged by 240 percent to US$3,733 million in the quarter to March 31, 2024.
The purpose of the fund is to provide compensation to protected investors for losses suffered as a direct result of a licensed contributor to the fund being unable to meet their liabilities through insolvency, malpractices, or other causes.
