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ALBI

The All Bond Indices are Vanilla Indices that are comprised of “vanilla” bonds from across the full range of maturities in the bond market.  They serve as a useful measure of the daily movement in the bond market.

Index Details

 

The ALBI Index is a composite index containing the top 20 vanilla bonds ranked dually by liquidity and market capitalisation.

Characteristic

Description
Name All Bond
Index Code ALBI
Universe Only conventional listed vanilla bonds, with a fixed (even if zero) semi-annual coupon.  Bonds with a term less than or equal to one year are excluded
Fixed No. of Bonds 20
Averaging Period Twelve month period ending on the Cut Date. The Cut Date is the last trading day of the month, two months prior to the Reconstitution or Reweighting month.
Ranking Dual ranking by average liquidity (clean consideration turnover) and average market capitalisation over the Averaging Period.
Weighting Methodology According to nominal amounts in issue as on the last day of the Averaging Period
Index Reconstitution End of every quarter in Feb, May, Aug, Nov
Effective at 12 noon on the first Thursday of reconstitution month
Index Reweighting Jan, Mar, Apr, Jun, Jul, Sep, Oct, Dec
Effective the Friday following the first Thursday of reweighting month
Dissemination End of Day
Base Date 2000/07/01


                                                                                      

                                                                               

               

                          

                                                            

 

The GOVI Index will contain all Bonds issued by the Republic of South Africa that fall into the top 10 positions of the ALBI Composite Index according to the dual ranking scheme.

Characteristic        Description
Name    Government Bonds
Index Code  ALBI20G
Short Name    GOVI
Universe     ALBI Index
Other Screening     RSA issued bonds.
Fixed No. of Bonds      10
Ranking  Dual ranking by average liquidity (clean consideration turnover) and average market capitalisation  over the Averaging Period. 
Weighting Methodology      According to nominal amounts in issue as on the last day of the Averaging Period.​
Index Reconstitution 

End of every quarter in Feb, ​May, Aug, Nov

Effective at 12 noon on the first Thursday of reconstitution month.             

Index Reweighting 

Jan, Mar, Apr, Jun, Jul, Sep, Oct, Dec

Effective the Friday following the first Thursday of reweighting month​.
Dissemination        End of Day
Base Date   2000/07/01

The OTHI Index contains the remainder of the ALBI Index Bonds that are not in the GOVI Index.

Characteristic       Description
Name   Other Bonds
Index Code  ALBI20O
Short Name    OTHI
Universe       ALBI Index
Other Screening  Exclude GOVI constituents
Fixed No. of Bonds    10
Ranking Dual ranking by average liquidity (clean consideration turnover) and average market capitalisation over the  Averaging Period.
Weighting Methodology According to nominal amounts in issue as on the last day of the Averaging Period.
Index Reconstitution  End of every quarter in Feb, May, Aug, Nov.
Effective at 12 noon on the first Thursday of reconstitution month.
Index Reweighting    Jan, Mar, Apr, Jun, Jul, Sep, Oct, Dec.
Effective the Friday following the first Thursday of reweighting month.
Dissemination              End of Day
Base Date     2000/07/01

The ALBI 1-3 Year is a sub-index of the ALBI Index based on a term to maturity of 1-3 years. This sub-index allows for analysis of the Vanilla Bond Market by term and by liquidity.

Characteristic      Description
Name  ALBI 1 to 3 Year Term Split
Index Code  ALBI201
Short Name    ALBI 1-3 Year
Universe  ALBI Index
Other Screening Term to maturity greater than 1 year or less than or equal to3 years
Fixed No. of Bonds  N/A​​
Ranking         Dual ranking by average liquidity (clean consideration turnover) and average market capitalisation over the Averaging Period
Weighting Methodology According to nominal amounts in issue as on the last day of the Averaging Period.
Index Reconstitution  End of every quarter in Feb, May, Aug, Nov
Effective at 12 noon on the first Thursday of reconstitution month.
Index Reweighting Jan, Mar, Apr, Jun, Jul, Sep, Oct, Dec
Effective the Friday following the first Thursday of reweighting month.
Dissemination  End of Day
Base Date    2000/07/01

                  

The ALBI 3-7 Year is a sub-index of the ALBI Index based on a term to maturity of 3-7 years. This sub-index allows for analysis of the Vanilla Bond Market by term and by liquidity.

Characteristic Description
Name ALBI 3 to 7 Year Term Split
Index Code ALBI203
Short Name ALBI 3-7 Year
Universe ALBI Index
Other Screening Term to maturity greater than 3 years or less than or equal to 7 years
Fixed No. of Bonds N/A
Ranking Dual ranking by average liquidity (clean consideration turnover) and average market capitalisation over the Averaging Period.
Weighting Methodology According to nominal amounts in issue as on the last day of the Averaging Period.
Index Reconstitution End of every quarter in Feb, May, Aug, Nov.
Effective at 12 noon on the first Thursday of reconstitution month.
Index Reweighting Jan, Mar, Apr, Jun, Jul, Sep, Oct, Dec
Effective the Friday following the first Thursday of reweighting month.
Dissemination End of Day
Base Date 2000/07/01

The ALBI 7-12 Year is a sub-index of the ALBI Index based on a term to maturity of 7-12 years. This sub-index allows for analysis of the Vanilla Bond Market by term and by liquidity.

Characteristic Description
Name ALBI 7 to 12 Year Term Split
Index Code ALBI207
Short Name ALBI 7-12 Year
Universe ALBI Index
Other Screening Term to maturity greater than 7 years or less than or equal to 12 years
Fixed No. of Bonds N/A
Ranking Dual ranking by average liquidity (clean consideration turnover) and average market capitalisation over the Averaging Period.
Weighting Methodology According to nominal amounts in issue as on the last day of the Averaging Period.
Index Reconstitution End of every quarter in Feb, May, Aug, Nov
Effective at 12 noon on the first Thursday of reconstitution month.
Index Reweighting Jan, Mar, Apr, Jun, Jul, Sep, Oct, Dec
Effective the Friday following the first Thursday of reweighting month.
Dissemination End of Day
Base Date 2000/07/01

The ALBI 12+ Year is a sub-index of the ALBI Index based on a term to maturity of 12 years and over. This sub-index allows for analysis of the Vanilla Bond Market by term and by liquidity.

Characteristic Description
Name ALBI 12 Year and Over Term Split
Index Code ALBI2012
Short Name ALBI 12+ Year
Universe ALBI Index
Other Screening Term to maturity greater than12 years
Fixed No. of Bonds N/A
Ranking Dual ranking by average liquidity (clean consideration turnover) and average market capitalisation over the Averaging Period.
Weighting Methodology According to nominal amounts in issue as on the last day of the Averaging Period.
Index Reconstitution End of every quarter in Feb, May, Aug, Nov
Effective at 12 noon on the first Thursday of reconstitution month.
Index Reweighting Jan, Mar, Apr, Jun, Jul, Sep, Oct, Dec
Effective the Friday following the first Thursday of reweighting month.
Dissemination End of Day​
Base Date 2000/07/01