S&P Dow Jones Indices (SPDJI), a leading provider of indices to the exchange-traded funds industry, has extended its emerging markets line-up with the launch of fourteen new indices measuring the performance of African equity markets.
So far this year, S&P Dow Jones has launched 29 indices tracking the performance of African equities.
The launch takes the total number of Africa-focused indices launched by SPDJI this year to 29.
All 29 indices have been designed to be suitable for a range of applications, including as underlying references for passive investment products such as ETFs, as benchmarks for actively managed funds and as general indicators of broad equity market performance.
Alexander Matturri, CEO of S&P Dow Jones Indices, said: “S&P Dow Jones Indices has a long history of providing relevant benchmarks to African investors. Continuing with this year’s launch of fifteen South Africa indices and now strengthened with today’s extensive offering of over a dozen new regional African indices.”
The new indices are as follows:
S&P All Africa
The S&P All Africa serves as the basis for numerous sub-indices including regional benchmark and tradable indices covering different segments of the continental equity market. The index is weighted by float-adjusted market cap and covers Botswana, Côte d’Ivoire, Egypt, Ghana, Kenya, Mauritius, Morocco, Namibia, Nigeria, South Africa, Tunisia, Zambia and Zimbabwe plus companies listed in developed markets that derive the majority of their revenue from the African continent.
S&P All Africa ex-South Africa
The S&P All Africa ex-South Africa is designed to serve as a comprehensive benchmark for the African market excluding South Africa.
S&P All Africa Capped
The S&P All Africa Capped modifies the S&P All Africa, ensuring that the weights of individual countries, sectors and companies are limited.
S&P All Africa ex-South Africa Capped
The S&P All Africa ex-South Africa Capped modifies the S&P All Africa ex-South Africa, ensuring that the weights of individual countries, sectors and companies are limited.
S&P East Africa
The S&P East Africa is designed to serve as a comprehensive benchmark for the East Africa region within the S&P All Africa, and includes companies listed in Kenya.
S&P North Africa
The S&P North Africa is designed to serve as a comprehensive benchmark for the North Africa region within the S&P All Africa, and includes companies listed in Egypt, Morocco and Tunisia.
S&P Southern Africa ex-South Africa
The S&P Southern Africa ex-South Africa is designed to serve as a comprehensive benchmark for the Southern Africa ex-South Africa region within the S&P All Africa, and includes stocks from Botswana, Mauritius, Namibia, Zambia and Zimbabwe.
S&P West Africa
The S&P West Africa is designed to serve as a comprehensive benchmark for the West Africa region within the S&P All Africa, and includes companies listed in Cote d’Ivoire, Ghana and Nigeria.
S&P All Africa Select
The S&P All Africa Select consists of 100 of the largest and most liquid companies from the S&P All Africa, including 50 South African companies and 50 non-South African companies.
S&P All Africa ex-South Africa Select
The S&P All Africa ex-South Africa Select is designed to be a broad, yet replicable index measuring the performance of the largest, most liquid companies listed in Africa ex-South Africa and companies listed in developed markets that derive the majority of their revenues from the African continent.
S&P East Africa 10
The S&P East Africa 10 consists of 10 of the largest and most liquid companies listed in Kenya. The index employs a 25% single stock cap to reduce concentration.
S&P North Africa 15
The S&P North Africa 15 consists of 15 of the largest and most liquid companies listed in Egypt, Morocco and Tunisia. The index employs a 20% single stock cap to reduce concentration.
S&P Southern Africa ex-South Africa 10
The S&P Southern Africa ex-South Africa 10 consists of 10 of the largest and most liquid companies listed in Botswana, Mauritius, Namibia, Zambia and Zimbabwe. The index employs a 25% single stock cap to reduce concentration.
S&P West Africa 25
The S&P West Africa 25 consists of 25 of the largest and most liquid companies listed in Cote d’Ivoire, Ghana and Nigeria. The index employs a 15% single stock cap to reduce concentration.