Investors in a derivative-linked “synthetic” exchange-traded fund have been left out of pocket after Nigeria was axed from its underlying index, according to a report by the Financial Times.
The losses may expose a hitherto unidentified weakness of the synthetic ETF structure, which relies on
```
Members Only
Login or create an account to continue
This article is available to registered BusinessDay readers. Please login if you already have an account, or create a new account to continue reading.
New to BusinessDay? Register now and start reading.
```
