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FTSE/JSE Looking Into Transparent Benchmark Index

Date 15/06/2002

Many funds in South Africa are today constructed on a low resource basis and use various proprietary indices as their benchmark.

Following the success of the FTSE/JSE Africa Index Series which go live on 24 June, market participants have asked the FTSE Group and the JSE to consider establishing a suitable independent and transparent benchmark index for such funds as part of the new FTSE/JSE Africa Index Series.

The FTSE Group and the JSE have agreed to investigate this issue as a matter of urgency and will invite the Actuarial Society of South Africa, investment consultants, major asset owners and fund managers to review the benchmark options available.