Today the JSE, the South African stock exchange, and FTSE Group (“FTSE”), the global index provider, launched the FTSE/JSE All Africa 40 Index and the FTSE/JSE All Africa ex South Africa 30 Index.
Both indices are suitable for the creation of financial products, such as index funds, warrants, certificates and Exchange Traded Funds.
“Providing investors worldwide with access to the African continent is an important part of the JSE's total Africa strategy, which also includes collaboration with other African exchanges and offering issuers the opportunity to dual list on our Africa Board,” said Russell Loubser, JSE CEO. “By partnering to form these indices, FTSE and the JSE are improving the visibility of the high quality companies that exist across the continent. The JSE hopes that this will benefit all exchanges, raising their profiles and thereby enhancing the capital raising opportunities for their issuers.”
“Interest in African equities is on the rise both from international and domestic investors” said Imogen Dillon Hatcher, Managing Director, EMEA - FTSE Group, “today's launch is part of FTSE's strategy to provide institutional investors with an accurate benchmark as well as serve as the basis for innovative investment products. These indices are further evidence of FTSE's and JSE's commitment to continue providing innovative solutions to investors both in South Africa and worldwide.”
The FTSE/JSE All Africa 40 Index will consist of the top 40 companies by market capitalisation from Egypt, Côte d'Ivoire, Kenya, Morocco, Mauritius, Nigeria, South Africa and Tunisia while the FTSE/JSE All Africa ex South Africa 30 Index will consist of the top 30 companies by market capitalisation from Egypt, Côte d'Ivoire, Kenya, Morocco, Mauritius, Nigeria and Tunisia. Both indices are designed to be representative of the markets covered and the weighting of any single country is capped at 40% of the indices. To ensure the indices remain representative, the constituents will be reassessed on a quarterly basis.
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About JSE Limited
As South Africa's only full service securities exchange, the JSE connects buyers and sellers in four different financial markets, namely equities, equity derivatives, agricultural derivatives and interest rate instruments. The JSE Ltd offers the investor a truly first world trading environment, with world class technology, surveillance and settlement in an emerging market context. It is amongst the top 20 largest equities exchanges in terms of market capitalisation in the world.
For further information, please visit www.jse.co.za
About FTSE Group
FTSE Group is a world-leader in the creation and management of indexes. With offices in Beijing, London, Frankfurt, Hong Kong, Madrid, Paris, New York, San Francisco, Boston, Shanghai and Tokyo, FTSE Group services clients in 77 countries worldwide. It calculates and manages the FTSE Global Equity Index Series, which includes world-recognized indexes ranging from the FTSE All-World Index, the FTSE4Good series and the FTSEurofirst Index series, as well as domestic indexes such as the prestigious FTSE 100. The company has collaborative arrangements with the Athens, Cyprus, Euronext, Johannesburg London, Madrid, NASDAQ and Taiwan exchanges, as well as Nomura Securities and Xinhua Finance of China.
FTSE indexes are used extensively by investors world-wide for investment analysis, performance measurement, asset allocation, portfolio hedging and for creating a wide range of index tracking funds. Independent committees of senior fund managers, derivatives experts, actuaries and other experienced practitioners review all changes to the indexes to ensure that they are made objectively and without bias. Real-time FTSE indexes are calculated on systems managed by Reuters. Prices and FX rates used are supplied by Reuters.
FOR FURTHER INFORMATION PLEASE CONTACT:
For JSE Ltd:
Corporate Communications Consultants (Pty) Ltd
Tel: (011) 783 8926
Fax: (011) 783 7608
Email: [email protected]
On behalf of:
Deputy CEO, JSE Ltd
Head of Strategy, JSE Ltd
Tel: (011) 520 7000
For FTSE Group:
Arnaud Humblot / Mittal Dave
Tel: +44 207 866 1821
Fax: +44 207 866 8957
Email: [email protected]