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Satrix
www.satrix.co.za
Satrix is the biggest manager
of ETFs in South Africa, with six products now listed on the JSE.
There are:
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Satrix 40
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Tracks the FTSE/JSE
Top 40 index, which is a broad based diversified index of the 40
largest blue chip shares on the JSE.
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Satrix Swix Top 40
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Consists of the same
40 companies as the Satrix 40, but weighted differently to reduce
volatility and exposure to commodities/offshore primary listed
companies.
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Satrix Indi
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Tracks the FTSE/JSE Industrial 25 index, which provides exposure
purely to industrial shares.
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Satrix Fini
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Tracks the FTSE/JSE Fini 15 index, which covers banks, insurance
and property companies.
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Satrix Resi
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Consists of the top 20 mining and commodity shares listed on the
JSE.
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Satrix Divi
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Tracks the FTSE/JSE Dividend Plus index, which is a fundamentally
weighted index consisting of the top 30 dividend paying large
companies on the JSE.
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Satrix RAFI 40
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Will be listed in October 2008 and is a fundamentally weighted
index which chooses constituents based on 5 years accounting
fundamental data. This is also a total return index.
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All the Satrix products are
passive index trackers, which trade on the JSE like any other listed
security, but offer exposure to a portfolio of listed index constituent
companies rather than to a single company or group. Satrix securities
can be traded like all other JSE shares through JSE member stockbrokers;
they have the benefit of market makers who create liquidity at the fair
market value of the index; they are low cost; provide very efficient
replication of the index being traded; and are ideal for investors or
traders looking for overall market exposure and beta products.
Baskets of shares, such as
ETFs, offer lower risk and volatility than single stocks. A number of
stockbrokers and other financial institutions offer derivative products
based on Satrix, such as single stock futures, options and geared contracts.
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