ETN - Standard Bank Africa Commodity Index
 
Focus and Objective
The SBAFCI is passive ZAR based index, and aims to reflect a diversified basket of commodities calculated on the basis of their average African production value of the most recent five year period. To achieve more stable returns, commodity weights in the index are adjusted based on an aggregated risk measure of the commodity returns as outlined in the Index Rules Document. The weightings in the underlying commodities for the Index are determined through the application of maximum and minimum weight thresholds to redistribute commodity weights; this ensures that no single commodity or commodity sector dominates the SBAFCI. The index thus invests in four recognised commodity sub-sectors which include Base Metals, Precious Metals, Energy and Agricultural. The respective underlying commodities at the time of issue are Aluminium and Copper, Gold and Platinum, Crude Oil, Corn and Wheat.

The commodity weightings are revised annually as outlined in the Index Rules Document. The index constituents are rolled every two months into a more distant liquid contract as the near-dated future moves closer to expiry in terms of the agreed weighting across the set of future contracts that is set in accordance with the Index Rules Document.

The SBAFCI is a total return index, created from the near-dated USD commodity future, USD interest rates and the USD/ZAR exchange rate. The near-dated future is used as it is typically the most cost effective way of gaining exposure to commodities; this is then rolled every two months into the next liquid contract as the near-dated futures move closer to expiry.

 
Details
Formation Date: 18 Aug 2011
Sector: Exchange Traded Notes
JSE Code: SBACI
ISIN: ZAE000159398
Currency:
Holdings: n/a
Unit Holders: n/a
Original Price: n/a
Pricing System: Forward
Minimum Lump Sum: R1 000
R300

Fees
TER: n/a
Annual: 0.5%
Performance: n/a
 
Price
Performance to 13 Dec 2019
R1 000 Lumpsum (NAV-NAV Incl. Dividends)
Period Return Value(R) Inflation(R)
3 Months 2.10% 1 021.00 1 003.50
6 Months 4.67% 1 046.70 1 013.30
1 Year 12.15% 1 121.50 1 037.30
3 Years 5.72% 1 181.60 1 143.70
5 Years 4.03% 1 218.30 1 280.10
 
R100 per Month (NAV-NAV Incl. Dividends)
Period Return Value(R) Inflation(R)
3 Months -0.43% 299.15 300.62
6 Months 1.87% 606.59 603.63
1 Year 8.38% 1 255.91 1 222.97
3 Years 6.09% 3 958.95 3 837.73
5 Years 5.42% 6 905.06 6 753.49
* Values for periods greater than one year are annualised
 
Price
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