Monthly South African ETF, ETN and Unit Trust Index Tracking Performance Survey
As highlighted in recent Monthly Performance Surveys, Rand Hedge investment products are currently in favour. The substantial decline in the rand’s value against all major currencies has pushed up the rand value of any offshore based investments, bringin
Over the 1 year or less investment horizon, the DBX Tracker ETF funds, which directly invest in overseas stockmarket indices, but are listed and trade as rand denominated “inward investments” on the JSE, have produced outstanding total returns. The DBX Tracker Eurostoxx 50 ETF, which covers the top 50 shares listed on European stockmarkets, has provided a total return of 64,0% over the past 12 months, closely followed by the DBX Japan ETF and DBX World ETF funds. DBX offshore products also dominate the performance tables over 3 and 6 months.
An interesting rand hedge option is the Satrix INDI 25 ETF. The portfolio of industrial shares in this ETF has a 70% weighting towards large capitalisation companies with the bulk, if not all, of their earnings coming from outside South Africa. As such, it has strong “rand hedge” features. The bulk of funds invested on the JSE, in recent weeks, looking for rand hedge protection, have been channelled into large capitalisation companies. The Satrix INDI 25 ETF has produced a total return of 52,7% for the 12 months ended 31st May 2013.
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The full etfSA Performance Survey is attached. The etfSA Performance Survey measures the total return (Net Asset Value (NAV to NAV)) changes including reinvestment of dividends) for index tracking unit trusts and Exchange Traded Funds (ETFs) available to the retail public in South Africa. The performance tables (attached) measure the 1 month to 5 years total return for a lump sum investment compared with the benchmark index returns (including reinvestment of dividends). All indices are shown in total return format. Note, as the FTSE/JSE calculates the index without taking into account any brokerage or other transaction costs, index tracking products will typically underperform the index because of their transaction and other running costs. Please Note: future performance will not necessarily repeat historic performance data.
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The etfSA Performance Survey measures the total return (Net Asset Value (NAV to NAV)) changes including reinvestment of dividends) for index tracking unit trusts and Exchange Traded Funds (ETFs) available to the retail public in South Africa. The performance tables measure the 1 month to 5 years total return for a lump sum investment compared with the benchmark index returns (including reinvestment of dividends). All indices are shown in total return format. Note, as the FTSE/JSE calculates the index without taking into account any brokerage or other transaction costs, index tracking products will typically underperform the index because of their transaction and other running costs.
Please Note: future performance will not necessarily repeat historic performance data.
