JSE’s first Africa-focused ETF makes its debut
An exchange-traded fund offering 50 African blue-chip companies outside SA has begun trading on the local bourse
An exchange-traded fund (ETF) offering 50 African blue-chip companies outside SA made its debut on the JSE on Thursday. Although the JSE already has two exchange-traded notes (ETNs) — Standard Bank’s Africa Equity index and Deutsche Bank’s MSCI Africa Capped 50 — offering portfolios of African shares, the AMI Big50 is the JSE’s first Africa-focused ETF. The new product, which trades under the JSE’s code AMIB50, moved in a price range of between R12.32 and R12.22, with 5,300 units changing hands by 11:30am. It brings the total number of ETFs now trading on the JSE to 53. The AMI Big50 is managed by Cloud Atlas Investing. "We want to improve liquidity and help to develop African markets for investors to feel the full robustness of these markets and, as such, have chosen to invest in stocks that are listed on African exchanges," the fund manager’s founder and CEO, Maurice Madiba, said. "These could include stocks in multinationals that are listed on African exchanges, as well as local ...
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