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Investment fund provider Satrix has listed its first passive fund tracking mid and small caps on the JSE, having raised R43.5m in its stock market flotation.Exchange traded funds (ETFs) and other passive forms of investing have gained in popularity in recent decades. Popularised by US fund manager Vanguard, founded by businessman John C Bogle, ETFs are a type of security that can track an index, sector, commodity or other assets. These securities can be bought and sold on the stock exchange like any other stock.Satrix is credited with bringing ETFs to SA, having launched the first such security locally 20 years ago, the Satrix Top 40 ETF. The company now manages more than R150bn in assets, making Satrix the largest index tracking business on the continent.Now the fund manager has extended its focus beyond the top 40 companies to include about 100 more, with its capped all share index (Capi)."For years, we’ve been meaning to offer a broad market exposure ETF," says Nico Katzke, head ...

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