An actively managed certificate (AMC) is a non-interest paying instrument that pays the investor the performance of a basket of securities that is actively managed by a portfolio manager according to a specific investment mandate.

Who is this for?

AMCs are used by both professional and retail investors wishing to gain exposure to assets which are managed according to a specific active investment strategy, via listed instrument.

Features:

  • Provides exposure to various underlying instruments, local and international, within a portfolio which are managed according to an active investment strategy.
  • Issued by banks regulated under the Banks Act of 1990 or the equivalent foreign legislation for foreign issuers.
  • AMCs promise the performance of the underlying reference portfolio, which is managed by an independent third-party who must implement the strategy as determined by the investment mandate of the reference portfolio.
  • The independent third-party manager may be:
    1. Cat II discretionary FSP, authorised by the FSCA;
    2. A Member of the JSE, authorised to manage discretionary funds; or
    3. Any foreign manager with the equivalent status.
  • Listed, traded, and settled in Rands.
  • Market maker presence to ensure adequate liquidity.
  • Are well-regulated by the JSE.

How to invest in Actively Managed Certificates

Considering listing  AMCs?

Please speak to our Primary Markets team for more information.

JSE Primary Markets

+27 11 520 7000

[email protected]

 

 

 

 

AMC List
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