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S&P Dow Jones launches S.Africa indices
12 February 2014
Nine indices covering South Africa’s equity market
S&P Dow Jones Indices has expanded its coverage of the
South African equity market.
The index provider launched nine new indices covering the
The new series of indices will bring "greater index based
measurement and transparency" to the market and investors, said
Vinit Srivastava, senior director at S&P Dow Jones
The S&P South Africa Composite was introduced, which
measures the performance of companies actively traded and
listed on the Johannesburg Stock Exchange (JSE). It covers both
foreign-domiciled and domestic-domiciled companies listed on
the JSE with float-adjusted market values of $ 100m or more and
annual dollar value traded of at least $50m.
The index is the basis for the eight other new indices:
• S&P South Africa Dividend Aristocrats
• S&P South Africa Low Volatility Index
• S&P South Africa Composite Capped
• S&P South Africa 50
• S&P South Africa 50 Equal Weight
• S&P South Africa Completion
• S&P South Africa Composite Shariah
• S&P South Africa Composite Shariah Capped
The firm has licensed the S&P South Africa Dividend
Aristocrats and the S&P South Africa Low Volatility Index
to Grindrod Bank for potential development in exchange traded
Srivastava said these two indices would enable investors in the
market to measure performance of long-time dividend payers and
low-volatility issues for the first time.
"Grindrod Bank intends to add two new 'smart beta’
ETFs to its Gtrax suite of ETFs, both of which will be aligned
to both the low volatility and dividend aristocrat themes,"
said Gareth Stobie, head of capital markets at Grindrod Bank.
"These themes have proven to be enormously popular with