The Johannesburg Stock Exchange has added three actively managed exchange-traded funds (AMETFs) to its Main Board, expanding the range of South African and global equity strategies available to investors.
The new listings are the Ninety One Top Choice SA Equity AMETF (91SAEQ), the Ninety One Global Strategic Equity Feeder AMETF (91GEQ), and the EasyETFs SA Equity Best Ideas AMETF (BEST).
Following the listings, the total number of ETFs on the JSE will increase to 145, with a combined market capitalisation exceeding R273 billion.
The AMETF market has developed since the JSE amended its Listings Requirements in 2022 to allow actively managed ETFs to list and trade. Unlike passive ETFs, which aim to replicate an index, actively managed funds allow investment managers to select and adjust portfolio holdings in response to market conditions.
Adèle Hattingh, specialist securities manager at the JSE, said the new listings reflected the continued development of the market.
“It is encouraging to see issuers bringing differentiated investment approaches to the market, spanning both South African and global equity exposure,” she said.
Two new strategies from Ninety One
The Ninety One Top Choice SA Equity AMETF gives investors access to a concentrated portfolio of about 20 South African shares, selected from the asset manager’s highest-conviction investment ideas.
The strategy draws on Ninety One’s team of 14 South African equity specialists, who have an average of 20 years’ experience. The fund aims to generate long-term capital growth by concentrating its investments in companies where the manager sees the strongest prospects for value creation.
The Ninety One Global Strategic Equity Feeder AMETF provides rand-based access to a portfolio of between 50 and 70 companies across developed and emerging markets. It invests primarily in the Ninety One Global Strategic Equity Fund, drawing on the expertise of the firm’s 38 global equity specialists and its 26-year track record.
The underlying fund aims to deliver long-term capital growth while providing a reasonable level of income. It may also invest in money-market instruments, cash, deposits, collective investment schemes, and derivatives for portfolio management and hedging.
Both funds can be accessed through a stockbroker or ETF platform, with a minimum investment of one share.
Ninety One says it expects to expand its AMETF range to seven funds by the end of the first quarter of 2027. The two new equity funds follow the listing of two local and global multi-asset AMETFs by the firm last year.
Siobhan Simpson, head of SA retail at Ninety One, said the expansion was intended to make the firm’s active investment capabilities accessible to a wider range of investors, including those who prefer listed instruments and digital investment platforms.
“Active ETFs make it easier for more investors to access professional investment expertise,” she said.
EasyETFs adds a South African equity strategy
The EasyETFs SA Equity Best Ideas AMETF focuses on South African listed companies. Managed by Easy Asset Management and led by chief investment officer Shaun Krom, the fund combines quantitative analysis, fundamental research, and active stock selection.
Its investment process incorporates macro-economic insights, thematic research, and proprietary ranking and weighting methodologies. The fund aims to achieve long-term capital growth while maintaining a risk-return profile that reflects the broader South African equity market.
Krom has more than 20 years’ institutional investment experience across South Africa and the United Kingdom.
Charles Savage, chief executive of EasyEquities, said the listing was in keeping with the company’s aim of making investment opportunities traditionally available to professional investors more accessible.
“At EasyEquities, our mission has always been to democratise investing and give every-day South Africans access to opportunities traditionally reserved for professional investors. The launch of the EasyETFs SA Equity Best Ideas AMETF builds on that commitment, combining institutional investment expertise, disciplined stock selection, and active management in a single, accessible JSE-listed product.”
