These indices replicate the constituents of some headline index, but with an alternate weighting methodology.

Index Detail

The Top 40 – USD Index mirrors the Top 40 Index (J200), but is calculated using constituent prices valued in USD instead of ZAR.
Name  Top 40 USD
Index Code           J20U
Alpha Code UTOP
Index Category Headline Index Variants
Universe Top 40 Index (J200)
Fixed No. of Companies 40
Liquidity Screening             Yes
Free Float Screening Minimum of 5%. 
Other Screening N/A
Weighting Methodology Free Float Market Cap Weighted (USD)
Ranking Methodology Ranked by net market cap
Capping Methodology N/A
Index Review Quarterly in March, June, September and December
Buffer Size            5
Dissemination 15 seconds
Live Date               2008/07/16
The Top 40 Dividend Index is the cumulative total of all gross ex-dividend adjustments applied to the Top 40 Index (J200), since inception, measured in index points.
Name  Top 40 Dividend
Index Code           J2DV
Alpha Code TDIV
Index Category Headline Index Variants
Universe Top 40 Index (J200)
Fixed No. of Companies 40
Liquidity Screening             Yes
Free Float Screening Minimum of 5%. 
Other Screening N/A
Weighting Methodology Free Float Market Cap Weighted
Ranking Methodology Ranked by net market cap
Capping Methodology N/A
Index Review Quarterly in March, June, September and December
Buffer Size            5
Dissemination End of Day
Live Date               2011/10/01
The Equally Weighted Top 40 Index replicates the constituents of the Top 40 Index (J200), but the constituents are equally weighted.
Name  Equally Weighted Top 40
Index Code           J2EQ
Alpha Code ETOP
Index Category Headline Index Variants
Universe Top 40 Index (J200)
Fixed No. of Companies 40
Liquidity Screening             Yes
Free Float Screening Minimum of 5%. 
Other Screening N/A
Weighting Methodology Equally Weighted Free Float Market Cap
Ranking Methodology Ranked by net market cap
Capping Methodology 2.5% quarterly
Index Review Quarterly in March, June, September and December
Buffer Size            5
Dissemination 15 seconds
Live Date               2010/07/01
The Capped Top 40 Index is constructed in the same way as the Top 40 Index (J200), but all constituents with a weight larger than 10% in the index are capped at a fixed level of 10% at each quarterly review.
Name  Capped Top 40
Index Code           J300
Alpha Code CTOP
Index Category Headline Index Variants
Universe Top 40 Index (J200)
Fixed No. of Companies 40
Liquidity Screening             Yes
Free Float Screening Minimum of 5%. 
Other Screening N/A
Weighting Methodology Free Float Market Cap Weighted
Ranking Methodology Ranked by net market cap
Capping Methodology 10% quarterly
Index Review Quarterly in March, June, September and December
Buffer Size            5
Dissemination 15 seconds
Live Date               2003/07/01
The Capped All Share Index is constructed in the same way as the All Share Index (J203), but all constituents with a weight larger than 10% in the index are capped at a fixed level of 10% at each quarterly review..
Name  All Capped Share
Index Code           J303
Alpha Code CALS
Index Category Headline Index Variants
Universe All Share Index (J203)
Fixed No. of Companies No
Liquidity Screening             Yes
Free Float Screening Minimum of 5%. 
Other Screening N/A
Weighting Methodology Free Float Market Cap Weighted
Ranking Methodology Ranked by net market cap
Capping Methodology 10% quarterly
Index Review Semi-annually in March and September 
Buffer Size            N/A
Dissemination 60 seconds
Live Date               2003/07/01
An alternate valuation for the Top 40 Index (J200), whereby the Total Return Index (TRI) is calculated using net dividend rates (“net in the hands of the SA investor”). Dividend withholding tax is deducted from the declared dividend with the resulting net dividend used in the XD adjustment.
Name  Top 40 Net Total Return
Index Code           JN00
Alpha Code TOPN
Index Category Headline Index Variants
Universe Top 40 Index (J200)
Fixed No. of Companies 40
Liquidity Screening             Yes
Free Float Screening Minimum of 5%. 
Other Screening N/A
Weighting Methodology Free Float Market Cap Weighted
Ranking Methodology Ranked by net market cap
Capping Methodology N/A
Index Review Quarterly in March, June, September and December
Buffer Size            5
Dissemination Real Time
Live Date               2012/04/16
An alternate valuation for the Top 40 - USD Index (J20U), whereby the Total Return Index (TRI) is calculated using net dividend rates (“net in the hands of the SA investor”). Dividend withholding tax is deducted from the declared dividend with the resulting net dividend used in the XD adjustment.
Name  Top 40 - USD Net Total Return
Index Code           JN0U
Alpha Code UTPN
Index Category Headline Index Variants
Universe Top 40 - USD Index (J20U)
Fixed No. of Companies 40
Liquidity Screening             Yes
Free Float Screening Minimum of 5%. 
Other Screening N/A
Weighting Methodology Free Float Market Cap Weighted (USD)
Ranking Methodology Ranked by net market cap
Capping Methodology N/A
Index Review Quarterly in March, June, September and December
Buffer Size            5
Dissemination Real Time
Live Date               2012/04/16
An alternate for the All Share Index (J203), whereby the Total Return Index (TRI) is calculated using net dividend rates (“net in the hands of the SA investor”). Dividend withholding tax is deducted from the declared dividend with the resulting net dividend used in the XD adjustment.
Name  All Share Net Total Return
Index Code           JN23
Alpha Code ALSN
Index Category Headline
Universe Ordinary shares listed on the JSE Main Board
Fixed No. of Companies No
Liquidity Screening             Yes
Free Float Screening Minimum of 5%. 
Other Screening N/A
Weighting Methodology Free Float Market Cap Weighted
Ranking Methodology Ranked by gross market cap
Capping Methodology N/A
Index Review Semi-annually in March and September
Buffer Size            Auto Addition: 98.5%; Auto Deletion:99.5%
Dissemination Real Time
Live Date               2013/11/25
Valuation of the Top 40 Index (J200) calculated exclusively during Futures Closeout Auction.
Name  Top 40 Expiry
Index Code           J20X
Alpha Code TOPX
Index Category Headline Index Variants
Universe Top 40 Index (J200)
Fixed No. of Companies 40
Liquidity Screening             Yes
Free Float Screening Minimum of 5%. 
Other Screening N/A
Weighting Methodology Free Float Market Cap Weighted
Ranking Methodology Ranked by gross market cap
Capping Methodology N/A
Index Review Monthly
Buffer Size            5
Dissemination 15 seconds
Live Date               2014/09/18
The index follows the construction of the Top 40 Index (J200), but aims to minimise the volatility of the index based on historical return and volatility information. For further details regarding the FTSE/JSE Minimum Variance indices and the underlying methodology, please refer to the FTSE Global Minimum Variance Index Series Ground Rules available on www.ftse.com/products/indices/Min-Variance.
Name  Minimum  Variance Top 40
Index Code           J700
Alpha Code TOPM
Index Category Headline Index Variants
Universe Top 40 Index (J200)
Fixed No. of Companies 40
Liquidity Screening             Yes
Free Float Screening Minimum of 5%. 
Other Screening N/A
Weighting Methodology Free Float Market Cap Weighted. Additional constraints on the weight of a single stock (7.5%) and the weight of an individual ICB Industry (<20%)
Capping Methodology N/A
Index Review Quarterly in March, June, September and December
Buffer Size            5
Dissemination End of Day
Live Date               2014/09/22
The index follows the construction of the All Share Index (J203), but aims to minimise the volatility of the index based on historical return and volatility information. For further details regarding the FTSE/JSE Minimum Variance indices and the underlying methodology, please refer to the FTSE Global Minimum Variance Index Series Ground Rules available on www.ftse.com/products/indices/Min-Variance.
Name  Minimum Variance All Share
Index Code           J703
Alpha Code ALSM
Index Category Headline Index Variants
Universe All Share Index (J203)
Fixed No. of Companies No
Liquidity Screening             Yes
Free Float Screening Minimum of 5%. 
Other Screening N/A
Weighting Methodology Free Float Market Cap Weighted. Additional constraints on the weight of a single stock (2.0%) and the weight of an individual ICB Industry (<20%)
Capping Methodology N/A
Index Review Semi-annually in March and September
Buffer Size            N/A
Dissemination End of Day
Live Date               2014/09/22

The Risk Target indices follows the construction of the Top 40 Net Total Return Index (JN00), but aims to provide specific risk-targeted exposures at three different levels of risk exposure, i.e. 10%, 15% and 20%.

For further details regarding the FTSE/JSE Risk Target indices and the underlying methodology, please refer to the FTSE Volatility Target Index Series Ground Rules available on www.ftse.com/products/indices/volatility-target

 

Index Code

Index Name

J10E

Top 40 Net 10% Risk Target Excess Return

J10P

Top 40 Net 10% Risk Target Price Return

J10T

Top 40 Net 10% Risk Target Total Return Index

J15E

Top 40 Net 15% Risk Target Excess Return

J15P

Top 40 Net 15% Risk Target Price Return

J15T

Top 40 Net 15% Risk Target Total Return Index

J20E

Top 40 Net 20% Risk Target Excess Return

J20P

Top 40 Net 20% Risk Target Price Return

J20T

Top 40 Net 20% Risk Target Total Return Index