South Africa’s JSE TOP40 Cash Index constituent rebalancing
In the below article we highlight South Africa’s JSE TOP40 constituents and how they have been reweighted on the index
South Africa’s JSE Top40 Index constituents rebalanced
The JSE Top40 Cash Index (J200) has as of Monday the 20th of September, undergone its quarterly rebalancing. The below table highlights the constituent weightings before and after the change.
| Company | Previous Top40 weighting | New Top40 weighting | Weighting difference |
|---|---|---|---|
ABSA Group |
1.53% |
1.59% |
0.06% |
Anglo American Plc |
10.57% |
10.97% |
0.39% |
Anglo American Platinum |
1.21% |
1.26% |
0.05% |
AngloGold Ashanti |
1.35% |
1.40% |
0.05% |
Aspen Pharmacare |
1.26% |
1.30% |
0.05% |
BHP Group |
12.47% |
12.93% |
0.47% |
Bidcorp |
1.52% |
1.57% |
0.06% |
British American Tobacco |
2.03% |
2.04% |
0.01% |
Bidvest |
0.95% |
0.99% |
0.04% |
Compagnie Richemont |
11.56% |
11.99% |
0.43% |
Clicks Group |
1.06% |
1.10% |
0.04% |
Capitec Bank |
2.28% |
2.36% |
0.08% |
Discovery Ltd |
0.77% |
0.80% |
0.03% |
Exxaro Resources |
0.69% |
0.70% |
0.01% |
Firstrand |
4.36% |
4.52% |
0.16% |
Goldfields |
1.59% |
1.65% |
0.06% |
Glencore |
0.85% |
0.95% |
0.09% |
Growthpoint Properties |
0.70% |
0.73% |
0.03% |
Impala Platinum |
2.08% |
2.22% |
0.14% |
Investec Ltd |
0.24% |
0.24% |
0.01% |
Investec Plc |
0.54% |
0.56% |
0.02% |
Multichoice Group |
0.66% |
0.69% |
0.02% |
Mondi Group |
2.74% |
2.84% |
0.10% |
Mr Price Group |
0.75% |
0.78% |
0.03% |
MTN Group |
3.32% |
3.44% |
0.12% |
Nedbank |
0.90% |
0.93% |
0.03% |
Northam Platinum |
0.88% |
0.91% |
0.03% |
Naspers |
7.15% |
7.42% |
0.27% |
Nepi Rockastle |
0.64% |
0.66% |
0.02% |
Old Mutual Group |
1.07% |
1.11% |
0.04% |
Prosus |
8.71% |
5.33% |
-3.38% |
Remgro Ltd |
0.88% |
0.92% |
0.03% |
Reinet |
0.58% |
0.56% |
-0.03% |
Standard Bank Group |
2.68% |
2.78% |
0.10% |
Shoprite Holdings |
1.28% |
1.33% |
0.05% |
Sanlam |
1.60% |
1.66% |
0.06% |
Sasol |
1.98% |
2.05% |
0.07% |
Spar Group |
0.56% |
0.59% |
0.02% |
Sibanye Stillwater |
2.05% |
2.10% |
0.05% |
Vodacom |
1.20% |
1.24% |
0.04% |
Woolworths Holdings |
0.75% |
0.78% |
0.03% |
While the vast majority of shares within the index have seen a marginal weighting increase, Prosus and Reinet are the securities whose weightings have been diminished.
There have been no changes to the securities making up the JSE Top40 Index for this quarter.
Top 10 weightings in the JSE TOP40 Index
Traders of the South Africa 40 Cash Index will note that the 10 largest constituents of the JSE Top40 Index are The BHP Group, Richemont, Anglo American Plc, Naspers, Prosus, Firstrand, MTN, Standard Bank and Capitec Bank.
The ten largest companies on the Top40 index account for roughly a 65% weighting in the index.
In summary:
- The JSE Top40 Index has been rebalanced as of the 20th of September 2021
- The shares making up the index have not changed in this quarter
- Prosus and Reinet are the only two securities to see their weightings reduced in the index
- The BHP Group is the largest weighting in the index
- Naspers and Prosus have a combined weighting of nearly 13% in the index
- The 10 largest constituents of the JSE Top40 Index account for around 65% thereof
This information has been prepared by IG, a trading name of IG Markets Ltd and IG Markets South Africa Limited. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients. See full non-independent research disclaimer and quarterly summary.
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