These indices replicate the constituents of some headline index, but with an alternate weighting methodology.
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Top 40 – USD (J20U)
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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 -
Top 40 Dividend (J2DV)
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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 -
Equally Weighted Top 40 (J2EQ)
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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 -
Capped Top 40 (J300)
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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 -
Capped All Share (J303)
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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 -
Top 40 Net TRI (JN00)
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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 -
Top 40 USD Net TRI (JN0U)
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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 -
All Share Net TRI (JN23)
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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 -
Top 40 Expiry (J20X)
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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 -
Minimum Variance Top 40 (J700)
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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 -
Minimum Variance Top 40 (J703)
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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 -
Risk Target Indices
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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