S&P 500 within reach for South African investors via JSE-listed CoreShares fund
South Africans can now own a piece of the S&P 500 index through a new exchange-traded fund (ETF), the CoreShares S&P 500 ETF, launched by CoreShares and listed on South Africa’s local stock exchange, the JSE. It is the first time that an ETF focused on the world-renowned S&P 500 has been available on the JSE. The CoreShares fund joins the more than 70 S&P 500-based ETFs listed on stock exchanges around the globe. The new ETF, listed on the JSE on November 4 this year, already has a market cap of more than R100-million. Local investors seeking exposure to offshore markets can do so easily and without needing to obtain exchange-control approval. Moreover, having access to a locally listed ETF based on the S&P 500 means people can readily build an offshore component into their investment portfolios and ensure that their investment is made as a part of a well-thought-out strategy rather than simply a panic reaction to movements in the rand’s exchange rate. The CoreShares S&P 500 ETF con...
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