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Grindrod Bank Lists Preference-Share ETF, Financial Mail Says

Grindrod Ltd.’s banking unit listed the first exchange-traded fund for preference shares in South Africa today, Financial Mail reported.

The fund will track the performance of the Johannesburg Stock Exchange’s preference-share index of 17 stocks that pay dividends, the Johannesburg-based weekly magazine reported, citing Gareth Stobie, the fund’s manager.

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