The S&P South Africa Composite, which covers both foreign domiciled and domestic domiciled companies listed on the JSE with float-adjusted market values of US$100m or more and annual dollar value traded of at least US$50m, serves as the basis for the following eight S&P branded indices:
S&P Dow Jones Indices has licensed the S&P South Africa Dividend Aristocrats and the S&P South Africa Low Volatility Index to Grindrod Bank, a registered financial services and credit provider in South Africa, for potential ETF development.
"S&P Dow Jones Indices is very excited to launch the S&P South Africa Composite and this new series of indices, bringing greater index based measurement and transparency to the South African market and its investors," says Vinit Srivastava, senior director at S&P Dow Jones Indices. "In addition, the launch of the S&P South Africa Dividend Aristocrats and the S&P South Africa Low Volatility Index represent the first time that investors here will be able to measure the performance of long-time dividend payers and low volatility issues."
"Grindrod Bank intends to add two new 'Smart Beta' ETFs to its Gtrax suite of ETFs, both of which will be aligned to both the low volatility and dividend aristocrat themes," says Gareth Stobie, head of Capital Markets at Grindrod Bank. "These themes have proven to be enormously popular with investors abroad. We are excited to provide South African investors with access to these strategies on the local exchange through Grindrod Bank."
Additional information on all indices can be found at www.spdji.com.
