S&P Dow Jones launches new family of nine South Africa indexes

By Tali Rackner

Norfolk, Va., Feb. 11 - S&P Dow Jones Indices announced the launch of nine new indexes covering the South African equity market, headlined by the launch of the S&P South Africa Composite index, an index that measures the performance of companies actively traded and listed on the Johannesburg Stock Exchange, according to a press release.

The S&P South Africa Composite covers both foreign-domiciled and domestic-domiciled companies listed on the Johannesburg Stock Exchange with float-adjusted market values of $100 million or more and annual dollar value traded of at least $50 million. It serves as the basis for the following eight S&P branded indexes covering South Africa: the S&P South Africa Dividend Aristocrats index, the S&P South Africa Low Volatility index, the S&P South Africa Composite Capped index, the S&P South Africa 50 index, the S&P South Africa 50 Equal Weight index, the S&P South Africa Completion index, the S&P South Africa Composite Shariah index and the S&P South Africa Composite Shariah Capped index.

S&P Dow Jones Indices 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, the release said.

The launch of the S&P South Africa Dividend Aristocrats and the S&P South Africa Low Volatility index represents "the first time that investors here will be able to measure the performance of long-time dividend payers and low-volatility issues," S&P Dow Jones senior director Vinit Srivastava said in the release.

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