Another new index! The FTSE/JSE All Africa Index Series was launched yesterday, designed to represent the performance of the top African companies listed on the stock exchanges of qualifying African countries. Each country is capped at a maximum of 40% of the index.
More interesting from our perspective is the sister inex, the FTSE/JSE All Africa ex South Africa 30 Index. This includes just the top 30 largest eligible companies, by market capitalisation, listed on the stock exchanges of qualifying African countries excluding South Africa. It has a maximum of 7 stocks permitted per country.