Exchange Traded Funds on the Treasury Debt Market
Tolea securities Limited (TSL), a special purpose vehicle set up to issue structured securities from all over the world has applied to the Capital Markets Authority for approval of a program to issue Exchange Traded Funds backed by Treasury bonds on ALTX East Africa. TSL expects to issue the ETFs on ALTX in the first quarter of 2018. These Exchange Traded Funds shall have an insurance enhancement that enables a portion of the funds remitted to ALTX to be used as premium for insurance cover. The insurance cover includes hospital cash benefit, temporary disability benefit, permanent disability due to an accident, education cash benefit, critical illness benefit, death benefit and funeral cash benefit.