African Domestic Bond Exchange Traded Fund (Mauritius)

The Fund's objective is to track the performance of the AfDB/ AFMI Bloomberg African Bond Index (Bloomberg ticker: BADBC Index) which is a rules-based market value weighted composite index. The Fund is a foreign debt securities collective investment scheme and invests its assets principally in the sovereign bonds of African countries.
The Fund is an Exchange Traded Fund, structured as apublic company with limited liability incorporated on 4 May 2017 and authorised as a global open-ended Collective Investment Scheme by the Financial Services Commission of Mauritius. Its non-voting redeemable participating shares were listed on the Stock Exchange of Mauritius on 18 September 2018.
The Fund is being promoted by the Manager (MCB Investment ManagementCo.Ltd), a public company incorporated on 16th June1998 in Mauritius. The Manager is a wholly-owned subsidiary of MCB Capital Markets Ltd, which is the capital markets and non-banking financial services arm of the MCB Group.
The Manager will seek to achieve the Fund's investment objective by investing the Fund's assets in African currency denominated debt obligations issued or guaranteed by an African Government, by an agency or instrumentality of an African Government, by an African Government sponsored entity or a quasi-Government entity in each case as determined by the Fund Manager and which are for the time being securities of the Index's member countries ( Member Securities ) but also in certain securities other than Index Securities being securities which qualify but are not part of the Index'smember countries ( Non-Member Securities ) by adopting a representative sampling strategy or similar strategy.