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S&P Dow Jones Indices continues South Africa expansion

S&P Dow Jones Indices (SPDJI) has launched six indices to meet the growing demand of South African investors for index-based investment strategies and benchmarks.

The launch of the six new indices is part of SPDJI’s continuing expansion of its South African indices and comes on the heels of nine new South African indices launched by SPDJI in February.
 
“S&P Dow Jones Indices is aggressively expanding its index offerings in South Africa to meet the growing needs of investors here for innovative, transparent, and representative financial market indices,” says Michael Orzano, director of global equity indices at S&P Dow Jones Indices. “We now offer an extensive set of broad market, tradable, thematic, and alternatively weighted indices designed to measure different exposures to South African equities.”
 
The six new indices are:
 

  • S&P South Africa Composite Property: A market capitalization weighted index that includes all companies in the S&P South Africa Composite that are classified as property companies.

 

  • S&P South Africa Composite Property Capped: A modified market capitalization weighted index where no single stock weighs more than 10 per cent of the index at each rebalancing.

 

  • S&P GIVI South Africa Composite: Designed to track large-, mid- and small-cap companies listed on the Johannesburg Stock Exchange while delivering both lower volatility and performance weighted by intrinsic stock value rather than by traditional market capitalization.

 

  • S&P South Africa Domestic Shareholder Weighted (DSW) Index: A variation of the S&P South Africa Composite, where the float-adjusted market values of the companies are adjusted to reflect the level of ownership by South African investors. Ten GICS sector indices based upon the S&P South Africa DSW Index are also being launched.

 

  • S&P South Africa DSW Capped Index: A modified market capitalization variation of the S&P South Africa DSW Index, where no single stock weighs more than 10 per cent of the index at each rebalancing.

 

  • S&P South Africa DSW 50: A variation of the S&P South Africa 50, where the float-adjusted market values of the companies are adjusted to reflect the level of ownership by South African investors. The index is modified market capitalization weighted, where no single stock weighs more than 10 per cent of the index at each rebalancing.

 
S&P South Africa Domestic Shareholder Weighted Index sector indices will for first time allow South African investors to measure sector performance based on the Domestic Shareholder Weighted Index methodology.

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