Van Eck launches new Africa ETF

Van Eck Global has launched a new Africa exchange traded fund (ETF) on the Arca platform of the New York Stock Exchange (NYSE). The Market Vectors – Africa ETF will seek to replicate the performance of the Dow Jones Africa Titans 50 index.

The index is compiled using the stock of 50 companies that are either listed in Africa or generate the majority of their revenue from the region and are listed on international exchanges. To be eligible for inclusion in the index, the companies must have a minimum market capitalisation of US$200m and a three-month average daily trading volume of US$1m.

Eleven countries are now covered by the index, including South Africa, Morocco, Egypt and the frontier markets of Nigeria, Ghana and Zambia

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