SA investors will soon have a new way to invest in US stocks via the JSE
THE US stock market’s most commonly used barometer, the S&P 500 index, will be available to JSE investors as an exchange-traded fund (ETFs) in a few weeks. The S&P 500 tracker is one of two new exchange-traded funds CoreShares hopes to list on November 4. The other is a S&P Global Property tracker, whose underlying portfolio is made of the world’s 40 largest property stocks by market capitalisation. This will be CoreShares’ third property-focused exchange-traded fund, joining its South African Property Index (Sapy) and Ten, which equally weights the JSE’s 10 largest property companies. CoreShares MD Gareth Stobie said the management fee on the S&P 500 tracker would be 0.45% and on the S&P Global Property tracker 0.5%. This undercuts the 0.855% management fee Deutsche Bank charges on its competing MSCI US index tracking exchange-traded fund. CoreShares will accept investments into the funds through a book build on October 24 and October 25, ahead of an anticipated listing on November...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.