The ETF is designed to reflect and measure the performance of large- and mid-cap companies across 23 developed markets, ensuring dividends and investments are compliant for Islamic investors. Trading under the code STXWIS, this fund is tailored for investors seeking capital growth, featuring a targeted annual Total Expense Ratio (TER) of 0.55%. It leverages the MSCI World Islamic Index as its benchmark, which is diversified across key sectors such as information technology, energy, healthcare, utilities, and others. Top constituents include Microsoft Corp, Tesla, Exxon Mobil Corp, Procter & Gamble Co, among others.
"We are proud to launch South Africa’s first Shariah-compliant ETF (Satrix MSCI World Islamic Feeder ETF) with offshore exposure, providing investors with a unique opportunity to access a globally diversified portfolio while adhering to Islamic investment principles. This ETF represents a significant milestone for Satrix and the broader South African investment community," said Yusuf Wadee, Head of Exchange Traded Products at Satrix.
The MSCI World Islamic Index represents an investment option that complies with Islamic finance principles by tracking the overall returns of a portfolio made up of compliant companies. It ensures that any dividends paid to shareholders are "purified" by donating portions of dividends generated from prohibited activities to charity rather than distributing to shareholders.
Adèle Hattingh, Business Development and Exchange Traded Products Manager at the JSE, has welcomed the listing of the Satrix MSCI World Islamic Feeder ETF on the Main Board of the JSE, highlighting that it will enable South African investors to further diversify their portfolios and provide more inclusive investing opportunities.
“We welcome innovative products that enable greater participation and create market inclusivity. The listing of this ETF enhances the JSE’s offerings, provides investors with more choice, and advances our market accessibility,” says Hattingh.
Today’s listing increases the number of ETFs listed on the JSE to 112 with a market cap exceeding R180 billion.
ENDS
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ABOUT SATRIX
Satrix is the leading provider of index-tracking investment products and exchange traded funds (ETFs) in South Africa, with assets under management of R230 billion* invested in the range of ETFs, index-tracking unit trusts, life pooled and segregated portfolios that are specifically tailored for client-specific mandates or retail funds.
It pioneered index investing in South Africa, launching the flagship Satrix 40 ETF as the first locally listed ETF in November 2000. The business services the institutional, intermediary, and individual investor markets. Satrix has proven expertise in risk management, portfolio analysis and index construction.
A core part of the Satrix purpose is to drive the democratisation of investments for all South Africans, where SatrixNOW, the no-minimum online investing platform, is a key enabler to provide access for South Africans to “Own the Market”.
The multi-award-winning business holds the largest market share in the ETF industry in South Africa at nearly 36%^. Visit www.satrix.co.za.
*Source: Satrix, 30th September 2024
^Source: etfSA.co.za, 30th June 2024
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