CoreShares*, in which Grindrod is a 40% shareholder, announced in October that all the regulatory approvals were in place to list two new Global ETFs on the JSE. These funds were successfully listed on 4 November 2016. The minimum investment amount is R1000.
The two funds trade in ZAR on the JSE but track global indices. CoreShares is the first ETF business to list the iconic S&P500 index on the JSE.
The two ETFs:
CoreShares S&P500 ETF – tracks the S&P500 index which consists of the 500 largest US companies in terms of market capitalisation.
CoreShares S&P Global Property ETF - tracks the S&P Global Property 40 index which provides exposure to the 40 largest global property companies in developed markets.
Well done to Gareth Stobie’s team and the teams in Compliance, Corporate Finance, Grindrod Securities and Grindrod Asset Management for their input in bringing this project to fruition.