Absa collaborates with Reitway Global to list NewFunds Reitway Global Property ETF

    26 May 2021

    Reitway Global (Pty) Ltd, in collaboration with Absa Corporate and Investment Banking, via its approved manager of the NewFunds Collective Investments Scheme, are pleased to announce the listing of the NewFunds Reitway Global Property ETF on the Johannesburg Stock Exchange today.

    The Investment Objective

    The primary objective of the ETF is to track a rule driven, market liquidity-based index, which aims to outperform traditional market cap weighted comparatives. The ETF is designed to give investors exposure to listed global property stocks selected according to the reference index. This will be achieved by replicating and tracking the Reitway Global Property Index.

    The Index

    The Index is created and maintained by Global Property Research (GPR), a registered Benchmark Administrator under the European Benchmarks Regulation (BMR) based in Amsterdam, The Netherlands. The construction of the Reitway Global Property Index is premised on the fact that the larger and more liquid property equities tend to track the General Equity sentiment and by implication, the individual price performances follow this trend, rather than the prevailing property fundamentals over certain periods of time. The index therefore entails a methodology that (i) mechanically adjusts exposure to property stocks where general equity momentum has an impact on pricing and (ii) selects a  basket size based on momentum criteria – this, in order to enhance performance.

    For more information about the Index please see here.

    Greg Rawlins, CEO of Reitway Global says: “We are excited to see the launch of this JSE product which extends our offerings on this investment channel. The ETF was created to respond to the need for a performance driven investment vehicle which draws on our Global Property knowledge & experience.”

    Jeroen Vreeker of Global Property Research says: GPR has worked with Reitway Global (Pty) Ltd since early 2014. In the case of the Reitway Global Property Index, this is typically an example of GPR’s capabilities to construct a benchmark catered to specific preferences. GPR is hugely excited to expand the client relationship with this index series making a valuable addition to GPR’s suite of tailor-made benchmarking solutions.

    Absa CIB as the originator is excited about this initiative. The ETF is a new addition to NewFunds Collective Investment Scheme in Securities, its first Property ETF to be launched under the scheme. “Property is a key component of any asset allocation strategy and we are excited to launch a fund that provides global exposure to the sector,” says Chris Edwards, Head of Index Solutions.  

    The ETF can be accessed via AIMS or any Investment or Trading Platform. For any further information on this product, or how to access it please refer to the product page on the Reitway Global website or contact Greg Rawlins / Olivia Teek on 021 551 3688.

     

    Join the Launch on 31 May 2021. Register Here

     

    About Absa Group Limited

    Absa Group Limited (‘Absa Group’) is listed on the Johannesburg Stock Exchange and is one of Africa’s largest diversified financial services groups. 

    Absa Group offers an integrated set of products and services across personal and business banking, corporate and investment banking, wealth and investment management and insurance.

    Absa operates in 14 countries. The Group owns majority stakes in banks in Botswana, Ghana, Kenya, Mauritius, Mozambique, Seychelles, South Africa, Tanzania (Absa Bank Tanzania and National Bank of Commerce), Uganda and Zambia and has insurance operations in Botswana, Kenya, Mozambique, South Africa and Zambia. Absa also has representative offices in Namibia and Nigeria, and securities entities in the United Kingdom and the United States.

    For further information about Absa Group Limited, please visit www.absa.africa