S&P Dow Jones announces launch of six new South Africa indexes

By Tali Rackner

Norfolk, Va., April 30 - S&P Dow Jones Indices launched six new indexes to meet the growing demand of South African investors for index-based investment strategies and benchmarks, according to a press release.

"S&P Dow Jones Indices is aggressively expanding its index offerings in South Africa to meet the growing needs of investors here for innovative, transparent and representative financial market indices," director of global equity indexes Michael Orzano said in a news release.

"We now offer an extensive set of broad market, tradable, thematic and alternatively weighted indices designed to measure different exposures to South African equities."

The six new indexes include the following:

• S&P South Africa Composite Property: A market capitalization weighted index that includes all companies in the S&P South Africa Composite that are classified as property companies;

• S&P South Africa Composite Property Capped: A modified market capitalization weighted index where no single stock weighs more than 10% of the index at each rebalancing;

• S&P GIVI South Africa Composite: Designed to track large-, mid- and small-cap companies listed on the Johannesburg Stock Exchange while delivering both lower volatility and performance weighted by intrinsic stock value rather than by traditional market capitalization;

• S&P South Africa Domestic Shareholder Weighted (DSW) Index: A variation of the S&P South Africa Composite, where the float-adjusted market values of the companies are adjusted to reflect the level of ownership by South African investors. Ten GICS sector indexes based upon the S&P South Africa DSW Index are also being launched;

• S&P South Africa DSW Capped Index: A modified market capitalization variation of the S&P South Africa DSW Index, where no single stock weighs more than 10% of the index at each rebalancing; and

• S&P South Africa DSW 50: A variation of the S&P South Africa 50, where the float-adjusted market values of the companies are adjusted to reflect the level of ownership by South African investors. The index is modified market capitalization weighted, where no single stock weighs more than 10% of the index at each rebalancing.

The launches come on the heels of nine new South African indexes launched in February.

S&P Dow Jones is part of New York-based McGraw-Hill Cos., a resource for index-based concepts, data and research.

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