Global index provider FTSE Russell has developed a new index series with the Namibian Stock Exchange. Due to launch tomorrow, there are 20 indexes on offer, which will be available as underlyings for index products, including exchange-traded funds.

FTSE Russell teams up with Namibian Stock Exchange to launch index series

The Namibian-focused indexes have been calculated by FTSE Russell since 2002, but were previously part of the FTSE JSE Index Series. They have now been separated from this and will have their own Ground Rules. ‘Ground Rules’ describes the underlying universe from which constituents are chosen, their eligibility criteria and the frequency at which the composition of the indexes are reviewed.

The index series will include a new capped index, the FTSE NSX Capped Overall Index.

Donald Keith, Deputy CEO at FTSE Russell said: “FTSE Russell has strong relationships across Africa and we are delighted to be working with NSX to create this new index series for the Namibian market. The launch of a series of indexes for investors comprised of the securities listed on NSX is an important step for the market and country as a whole. We look forward to working with NSX to further develop this index series and create innovative index products for this market.”

Tiaan Bazuin, Chief Executive Officer, NSX said: “NSX is committed to the growth and development of the financial market in Namibia. The launch of this new dedicated Namibian index series is a testament to the development of the country’s financial markets. We are pleased to be working with FTSE Russell to build these indexes, which we believe will further encourage investor participation in our markets.”

There are four ETFs on the NSE; the AfricaPalladiumETF from Standard Bank, and three from Absa – the NewGold Issuer Ltd ETF, the NewGold Palladium ETF and the NewGold Platinum ETF.