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State of the South African Exchange Traded Product Industry Review-Second Quarter 2013
July 11, 2013--Net Capital Raised
Over the six months to June 2013, some R5,1 billion additional capital was raised by the issue of new ETPs or by the issue of further securities by existing ETPs.
Exchange Traded Products, like unit trusts, are open-ended securities listed on the JSE, that can issue new securities or redeem securities at any time to meet investor requirements.
Table 1 summarises the capital raising activities of the nine companies that currently issue ETPs. Absa was the most successful issuer, raising a net R4,6 billion new capital on the JSE. This included R5,35 billion new capital raised through the issue of over 43 million shares by the NewPlat ETF, which invests directly in platinum bullion. This R5 billion new capital, raised in less than 6 weeks, has been one of the most successful capital raising ventures on the JSE in recent years. Redemptions of R716 million (R0,71 billion) of NewGold ETFs, brought the net capital amount raised by Absa products to R4,6 billion over the six month period.
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Source: FA News
Rand firms on short-covering
July 10, 2013--The rand firmed against the dollar on Wednesday with investors covering short positions but dealers expect gains to be curbed as markets wait for the publication of the minutes of the US Federal Reserve's June meeting.
The rand failed to break through R10.3000/$ on Monday, inducing a bounce that has taken it to the R10.0000 level.
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Source: FIN24
Rand, bonds slightly firmer
July 9, 2013--The rand firmed against the dollar on Tuesday with investors booking profits on the U.S. currency and with risk sentiment improved after Greece managed to secure a bail-out to prevent Athens defaulting on debt due next month.
The dollar came back from three-year highs fuelled by a stronger-than-expected non-farm payrolls number on Friday.
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Source: FIN24
Nigeria: Types of Collective Investment Schemes
July 9, 2013--There are different types of collective investment schemes (mutual funds) for different investment purposes. It is important that you understand the purpose or investment objectives of a mutual fund before deciding to participate or not.
The most common type is Unit Trust schemes. A unit trust is a scheme whereby investors contribute small sums of money to form a pool of fund for investment in stocks, bonds, or other money market instruments by a fund manager. The fund manager invests on behalf of the contributors or investors.
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Source: AllAfrica.com
East Africa Hopes to Have Regional Stock Exchange in a Year-Experts
July 9, 2013--East Africa's dream of a regional stock exchange that merges into one the stock markets of the five East Africa Community member states is likely to take off in a year or two, key players in the region have said.
"Definitely we want to have one stock exchange. Technically, I think we are almost there. Maybe it will happen in about a year or two," said Kenneth Kitariko, Chief Executive Officer of African Alliance, Uganda's leading brokerage firm. Mr Kitariko, who is also a member of the Governing Council of the Uganda Securities Exchange, was speaking to African journalists at an event organized by the Thomson Reuters Foundation in Kampala last week.
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Source: All Africanews.com
Rand under pressure, bonds weaker
July 8, 2013--The rand touched fresh 2-week lows against the dollar on Monday and could lose further ground as the greenback remains supported by jobs data that has boosted chances the United States will soon pull back on its bond-buying programme.
News that Anglo Platinum [JSE:AMS], the world's number one producer of the precious metal, has been hit by a wildcat strike at one of its mines will weigh further on local sentiment.
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Source: FIN24
Kenya to Introduce Exchange-Traded Funds, Market Regulator Says
July 8, 2013--The Nairobi Securities Exchange (NSEASI), Africa's third-best performing bourse this year, will begin offering exchange-traded funds, the Capital Markets Authority said.
The funds will be offered “in an effort to increase the scope of capital market products available in Kenya,” the Nairobi-based regulator said in an e-mailed statement today.
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Source: Bloomberg Business Week
Stocks driven down by resources slump
July 5, 2013--South African stocks were dragged lower by a slide in the shares of mining companies on Friday as stronger-than-expected US jobs data hit gold prices.
The benchmark Top 40 - (Tradeable) [JSE:J200] declined 2.35% to close at 34 684.53, while the broader All-share index was felled 2.15% to 39 169.83.
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Source: FIN24
Rand under pressure
July 5, 2013--The rand held broadly steady against the dollar in early Friday trade although investors remained jittery ahead of US jobs data that should give a clue about the timing of the Federal Reserve's withdrawal of stimulus.
Domestic mining concerns were also hanging over the local currency.
At 08:49, the rand was at R10.0335/$, compared to a close of R10.0260 in New York time on Thursday.
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Source: FIN24
Egypt faces rising financial risk-data
July 5, 2013--Egypt's crumbling public finances may be in even worse shape than previously estimated.
While stock and bond markets have cheered the ouster of unpopular President Mohamed Mursi by the army and Egypt's debt insurance costs have tumbled, data shows that financial risks are about to escalate.
The central bank's net hard currency reserves, which a country needs to pay for imports, are in negative territory if upcoming short-term obligations are included, indicating a looming funding crunch for Egypt unless it quickly accesses external aid.
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Source: FIN24
