Africa warms to S&P Exchange Traded Funds
Savvy investors are sure to warm to the idea of investing directly into Standard and Poors 500 index through two unique Exchange Traded Funds which are being brought to the market by CoreShares, domiciled in Mauritius.
Commenting on this launch, Gareth Stobie, Managing Director of CoreShares said, “through these ETFs, we are granting access to the S&P Dow Jones indices to local individuals and institutional investors. The S&P 500 is probably the most accurate quantifier of the U.S. economy and the S&P Global Property gives access to the buoyant international property market.’’ Gareth also mentioned that “The Mauritian jurisdiction offers a solid platform for expansion on the continent, a strong services sector couple with robust governance structure.”
Zack Bezuidenhoudt, Head of Client Coverage, South Africa and Sub-Saharan Africa, at S&P Dow Jones Indices, said “Today’s announcement is yet another milestone in the development of Africa’s financial market. S&P Dow Jones Indices is proud to be a catalyst for the continuing expansion and robust growth of Africa’s index investment landscape. Our licensing agreement with CoreShares means that for the first time, African investors will be able to directly track the returns of the large cap U.S. equities market and global property companies whilst gaining an important diversification tool for their portfolios.”
The CoreShares S&P 500 ETF will track the Vanguard S&P 500 ETF which invests in stocks of the S&P 500 Index.
The CoreShares S&P Global Property 40 ETF will track the performance of the leading 40 global property companies from 8 different countries.
The constituents of the index are large, well-traded, liquid property companies from North America, Europe and Asia Pacific currently trading on the developed market exchanges.
CoreShares will be the Collective Investment Schemes Manager, MCB Stockbrokers Ltd will act as Market Maker and Cim Fund Services Ltd will be the Administrator and Transfer Agent.