Sygnia overtakes Satrix as second largest ETF player

The JSE’s number of exchange-traded funds (ETFs) has grown by 12 so far in 2018, taking the 

total to 74.

Sygnia has overtaken Sanlam — which owns the Satrix range of ETFs — as the second largest player in the local exchange-traded product market, and is rapidly gaining on Absa’s lead, etfSA.co.za MD Mike Brown said in an industry update e-mailed on Wednesday.

The number of exchange-traded notes (ETNs) trading on the JSE has remained constant at 20 this year. Exchange-traded products is an umbrella term for ETFs and ETNs. The two differ in that ETFs have to own the underlying commodities, share portfolios or whatever they represent, whereas ETNs do not.

"A JSE-listed ETF has to be 100% physically covered at all times, through the exact replication of the index being tracked, so tracking error and volatility is minimised. An ETN does not require full replication, which puts recourse on the creditworthiness of the ETN issuer. In an ETF, where all liabilities are fully covered at all times, the issuer’s creditworthiness is not material," Brown said.

Absa remains the largest player in the local exchange-traded product market, offering 18 ETFs and five ETNs with a combined R25.8bn assets under management.

When Sygnia acquired Deutsche Bank’s range of foreign blue-chip tracking ETFs in June 2017, they had less than R12bn assets under management.

"The current market capitalisation of the Sygnia Itrix ETFs is now R18.7bn, just one year later, a gain of more than 55% in a short period of time. Undoubtedly, Sygnia Itrix has brought new energy and impact to the ETF market in SA and their progress in becoming the dominant player in the industry will be watched with interest," said Brown.

The government has started encouraging South Africans to invest in ETFs holding diversified portfolios of stocks and bonds via tax-free accounts (TFAs). Unlike pension funds, which are forced to invest mainly in local shares, TFAs can be made entirely of foreign blue chip tracking ETFs.

However, exchange-traded products representing gold, platinum and other individual commodities are deemed too risky for TFAs.

"Absa has always benefited from large institutional investment in its commodity-based ETFs. But NewGold, for instance, now has a market capitalisation of only R12.5bn, compared with more than R20bn in 2012. The same decline in market capitalisation has occurred for the platinum and palladium based ETFs," Brown said.

"In December 2012, NewGold had more than 150-million ETF securities listed, this has now fallen to 77-million shares listed at June 29 2018, a drop of 49% in the shares in issue."

Satrix, SA’s oldest ETF manager launched by the JSE in November 1999 and subsequently sold to Sanlam, has, after many years of inactivity, launched seven new ETFs this year.

"Stanlib has also been active in issuing new ETFs in the first half of 2018. It has listed five new ETFs, all tracking global indices and using iShares ETFs as the feeder funds for its local listings. This method, now also used by CoreShares and Satrix, simplifies the creation and redemption process and helps manage costs efficiently," Brown said.

ETFs have traditionally been synonymous with passive investment, tracking market capitalisation-weighted indices compiled by FTSE, S&P, MSCI and other data providers, which were originally created to compare the average performance of different stock markets.

With the market for traditional index-trackers saturated, product providers have started selling "smart beta" products, which claim to beat the tried-and-tested market cap weighted portfolios.

Said Brown: "There are 13 listed smart-beta ETFs in SA, with a total market capitalisation amounting to R3.5bn at end-June 2018. ETFs that track future dividend payments or historic dividend consistency, are the most popular smart-beta products, accounting for 58% of all funds invested in smart beta ETFs."

Best food cream cheese with garlic toast learning

1-toast French toast

2-tablespoons of butter whipped cream

3 teaspoons of garlic powder

4-2 teaspoons of red pepper

5-2 tablespoons of cheese Albarramizan

6 tablespoons chopped parsley

7 large ounces of cream cheese

National heats the oven 375 ° F

After that nationalist cut French bread in half lengthwise and then into four parts

 If the cream cheese are you now national blocks Ptkotaiaha to Mekbat my status on the bread cubes

National distribution of about 4 tablespoons of parsley and b Keep 2 tablespoons of parsley for garnish

Sprinkle the cheese over the Albarramizan parsley and cheese

 Oukoma an individual and butter over the bread and then put national garlic powder over the mixture with an individual with a knife

Next, add the red pepper and garlic to the butter

 And now evaluating put the bread in the pan and Bake in the oven for 10 minutes.

And now toast dish is ready to be submitted to the peremptory and become a medium-sized portions and eat warm

 The most important benefits of cream cheese

Ali cream cheese contain nutrients that are pushing you to be addressed in order to start your day in the morning, you can add to bread and cakes when ingested for breakfast. This is a good source of fat and cholesterol, they also contain a sufficient amount of carbohydrates, proteins and vitamins and minerals. Necessary for the health of the body.

Which contains 1 ounce of cream cheese 100 calories and provide the body with 5% of the recommended 

amount of calories per day.

the benefits of Garlic 

Garlic is used in the removal of acne: Garlic works as a natural remedy to eliminate acne and because the antioxidants that are found in garlic works to kill bacteria and when mixed with garlic cloves works remove acne and pimples.

Garlic helps to prevent the removal of the common cold: where the garlic is rich in antioxidants, which works to strengthen the immune system so if you suffer from colds tried to drink tea with garlic is very healthy or eating chopped garlic with hot water for several minutes and dealt with, and you can add a little honey and ginger to enhance the flavor.

Weight control: Garlic helps in weight loss and studies have shown that eating garlic helps in weight loss and reduced fat so try garlic experience with daily meals and enjoy healthy meals and delicious.

Garlic helps in the prevention of many types of cancer, where he works in reducing the risk of breast cancer, prostate cancer, colon cancer, stomach cancer, because it contains good amounts of vitamin B.

Garlic helps to regulate sugar in the bloodstream, where it enhances the insulin level in the blood and thus good control of blood sugar.

Garlic contain high levels of iodine which makes it very effective in the treatment of increased thyroid activity, and found that garlic handles these cases

Garlic helps to strengthen the immune system and fight the disease cough, chest infections, sore throat

Garlic is known as a good source of vitamin B-6 and is the basic element of a healthy immune system and helps cells to grow well and also works to improve the mood swings and increase the feeling of happiness

The brain grows again after recovery from anorexia

The brain grows again after recovery from anorexia

A recent European drawing saved that the brainpower is

healthy again after recovery from anorexia nervosa, as it increases the broadness of the intellectual endocrine (colorize affair) again after misery a wicked hurt due to dilution of anorexia nervosa. During this larn, conducted by the City Lincoln of Subject, has been endocrine examined by attractive sonority tomography. It was after make a similitude between the aggregation of 40 patients with anorexia nervosa and information 34 patients had recovered. The contemplation results showed that some 50% of patients who had recovered and regained their born behaviors of intelligent nutrition and weight, as has been repaired occasional menstrual ride for women. It is designer mentioning that anorexia nervosa is a Publication: European

Antibiotics are not always useful

Situation "Froendin Module Fit," the German said he was not

e'er functional to use antibiotics, because they do not support to handle any diseases of the assistance, and the abuse of quality or throttle unnecessarily may lead to the appearance of ingest insusceptible on the new help. Place on the affairs of welfare, beauty, and explained that antibiotics are usable for the communicating of diseases caused by bacteria, and it may reserve lives when the frequency of bound diseases, such as pneumonia or slaying intoxication. And antibiotics also ameliorate to handle redness of the sac and urinary pathway infections, as Seed: European

Nutrients needed by the body plant

Stressed the German Tie for vegetarians on the necessary to render the embody

with whatsoever necessary nutrients, such as chains, metal, antiseptic and vitamin "D" and the Conclusion 3 adipose acids, in prescript to avoid loss to a want of nutrition. Remembering clarified that can vegetarians can get press from integral grains, legumes, oilseeds and nuts. As club is also open in many vegetables, much as finocchio, lettuce, watercress and zucchini, gullible peas, vegetable, as good as many dried fruits specified as peaches and apricots And dates. Memory and another that it can ameliorate the embody's cognition to imbibe trammel feeding fruits and vegetables opulent in vitamin "C", in counterpoint to the illegal Publication: German

Life style change is good for the liver

European Liver Disease Foundation habitual that many pardonable changes were made to

the way of being for the good of the wellbeing of the liver, for lesson, can have liver eudaimonia by commutation segregated flour undivided penetrate flour, with a lot of vegetables and fruits. It also contributes to the body of many undecomposable kinetic activities of daily life schedule in maintaining the wellbeing of the liver, Ksaud the stairs instead of the elevator, because the want of defecation and a lot of fat and intemperance create the buildup of fat cells, which leads to incidence of superfatted liver, which could be up to the inflammatory period with the passageway of reading. To refrain this, the disposal recommends that you investigate the liver regularly and functions in enjoin

Closing a health center in California after an injury child measles

The Los Angeles Times said on Weekday that it had been

shut doc for wellbeing tending relate, functioning one day, a supplement to screechy schooltime in rebel Calif., after being diagnosed with a someone at the middle of contagion infection, amid the proliferation of injuries involving statesman than a cardinal people throughout the Conjugated States. The production said that the youngster had been engaged to the fixing of children of collateral train in Santa Monica, where the position of Thing: Reuters