INVESTMENTS

In his quarterly report on the exchange traded product (ETP) industry, Mike Brown, managing director of etfSA.co.za, says the total market capitalisation of ETPs (exchange traded funds and exchange traded notes) listed on the JSE at the end of September was R124 804 million. This constituted a slight improvement on the figures at end June 2022, but still signifies a fall of 8.3% (from R136 049 million) at the end of 2021. Brown says the decline is a consequence of the poor performance of global and bond markets, both locally and abroad, this year. More than 70% of the value of ETPs listed in South Africa track foreign-referenced indices or assets.