The Johannesburg Stock Exchange (JSE) has listed three new Exchange Traded Funds (ETFs) bringing the total number of ETFs on the exchange to 126, with a combined market capitalization of R247.9 billion (~USD 15 billion).
The listings include two Allan Gray-Orbis feeder actively managed ETFs (AMETFs) and the Satrix Global Property Feeder ETF. The Allan Gray Orbis Global Equity Feeder AMETF (AGOGE) invests in the Orbis Global Equity Fund, which targets long-term out-performance versus global equity markets. It offers diversified exposure to large multinational companies across developed markets through professional active management rather than simple index tracking.
The Allan Gray Orbis Global Balanced Feeder AMETF (AGOGB), has a balanced approach. It combines global equities and other assets using the Orbis SICAV Global Balanced Fund. It delivers diversified risk-adjusted returns rather than strictly tracking a single index.
The Satrix Global Property Feeder ETF (STXGLP) tracks the FTSE EPRA Nareit Developed Index, a global benchmark that shows the performance of leading listed property companies and Real Estate Investment Trusts (REITs) in developed markets. It enables JSE investors to access international property markets (such as the US, Europe, Asia) via a locally traded fund.
Allan Gray stakeholders noted that the feeder funds enhance the accessibility of globally diversified investment strategies to local investors through the JSE, while offering an easier way to participate in international markets without direct offshore transactions.
According to Satrix, the STXGLP reduces costs and enhances transparency in access to global property assets. Investors can use the fund to diversify their portfolios, while managing currency-related risks such as rand volatility.
JSE on new listings
The three new listings highlight continued growth in the JSE ETF market, driven by new product launches and supportive regulation. The JSE notes that ETFs and AMETFs allow investors to trade easily during the day while gaining diversified, transparent and cost-effective exposure.
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