Johannesburg Stock Exchange launches FTSE/JSE equally weighted Top 40 Index

Johannesburg Stock Exchange launches FTSE/JSE equally weighted Top 40 Index

On the 1st of July 2010, the Johannesburg Stock Exchange (JSE) and a global index provider FTSE Group (FTSE) will launch of the FTSE/JSE Equally Weighted Top 40 Index. The new index adds to the existing FTSE JSE index Series, providing an alternative to market capitalisation weighting and is the first equally weighted index to be launched in South Africa, within the FTSE/JSE Index Series.

Aimed at fund managers globally, the introduction of the FTSE/JSE Equally Weighted Top 40 Index will extend the FTSE/JSE Africa index range and provides a variation from existing indices, allowing greater risk diversification and benchmarking for performance, particularly in equity portfolios. “Current market conditions require a tool that allows for all companies to be considered on an even playing field,” says Ana Forssman, Senior General Manager of Information Product Sales.

Jonathan Cooper, Managing Director Middle East and Africa, FTSE Group believes “The new index provides the South African market with an exciting new investment opportunity, as well as raising visibility for South Africa amongst the international investor community. We shall continue to build upon our work with the JSE to ensure we meet market demand.”