Satrix launches first Nasdaq 100 ETF on JSE

Apr 12th, 2018 | By | Category: ETF and Index News

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Satrix Managers, the first company to launch an ETF in South Africa, has brought to market a new fund offering access to the well-known Nasdaq 100 Index.

satrix nasdaq 100 jse etf launch

Satrix celebrates the launch of the Satrix Nasdaq 100 ETF at JSE’s market opening ceremony.

Listed on the Johannesburg Stock Exchange, the Satrix Nasdaq 100 ETF (STXNDQ SJ) provides exposure to US large-cap stocks with a strong technology leaning.

It is the first JSE-listed ETF to track the index.

Helena Conradie, CEO of Satrix, commented, “I am very excited to announce the latest addition to our global ETF range, and our very first in partnering with Nasdaq.

“South Africans are sophisticated investors and have varying needs, especially when it comes to global investing. Satrix has met many of those needs and we think the Satrix Nasdaq 100 ETF is a fine complement to our existing range.”

Donna Nemer, director of capital markets at the Johannesburg Stock Exchange, added, “We are committed to offering all our investors choice and this ETF will expand our global ETF range and provide our investors with an opportunity to invest in the 100 largest, non-financial companies listed on the Nasdaq Stock Market in a single trade.”

The Nasdaq 100 index is one of the most widely followed benchmarks for the US equity market. It is well known for being ‘tech heavy’ (technology is the largest sector exposure at 56.8%) but also includes industrial, retail, telecommunication, biotechnology, health care, transportation, media and service companies.

The largest constituents are currently Apple (11.9%), Alphabet (9.3%), Microsoft (9.0%), Amazon (7.7%), and Facebook (5.8%).

“The Nasdaq-100 is the benchmark for the new industrials, the global companies changing the way we work, socialise, transact, and move every single day,” said Dave Gedeon, vice president and head of global index research and product development for Nasdaq Global Indexes.

“From technology to medicine to industry, there is almost no corner of innovation that the Nasdaq 100 does not reach. Now investors in South Africa are able to access these innovative names in the ETF wrapper for the first time. We are very excited to work with Satrix to deliver the first Nasdaq-100 ETF in Africa.”

The fund has a targeted total expense ratio of 0.48%.

Other ETFs offered by Satrix include the Satrix Top 40 ETF (STX40 SJ), the Satrix MSCI World ETF (STXWDM SJ), the Satrix MSCI Emerging Markets ETF (STXEMG SJ), and the Satrix S&P 500 ETF (STX500 SJ), providing exposure to South African, global, emerging market, and US equities respectively.

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