Absa Capital extends offer for SA’s first BEE Exchange Traded Fund  


Absa Capital and Vunani Capital have announced an extension of initial public offer for NewSA, South Africa’s first BEE Exchange Traded Fund (ETF) to the 12th of October 2007.

The closing date was originally set for September 19th 2007.

Vladimir Nedeljkovic, Head of Hybrids at Absa Capital says, “We’ve had a lot of interest in the NewSA ETF so in order to afford institutional investors further opportunity to obtain the mandates and/or authorisations necessary for investment, we have extended the closing date of the initial offer to 12 noon on the 12th of October 2007.”

Private investors will of course also be able to take advantage of the extra time to apply.

NewSA is a portfolio in NewFunds Collective Investment Scheme, a 50/50 joint venture between BEE company Vunani Capital and Absa Capital and is the first investment product to give investors the opportunity to reward and recognise transformation.

The NewSA ETF will track the performance of the NewSA Index, a modified Top40 index, with the constituent weightings adjusted to reflect their respective BEE status, as determined using the Codes of Good Practice on Broad-Based Black Economic Empowerment, published by the Department of Trade and Industry.

It is aimed at institutional investors, fund and asset managers as well as high net worth individuals wanting to increase their exposure to blue-chip companies listed on the JSE with high black economic empowerment (BEE) ratings.


Note to the editor:

About Absa Capital
Absa Capital, a division of Absa Bank Limited (Absa) and affiliated to Barclays Capital, is a leading South African investment bank with global reach, offering clients financing, risk management and advisory solutions in a wide range of currencies and structures across the globe.

About Vunani Capital

  • Vunani Capital is a wholly owned subsidiary of Vunani Capital Holdings
  • The Vunani group is a black owned and managed financial services group  that was established in 1998.  A management buy-out from its holding company in 2004 led to the introduction of a strategic equity partner in the form of Absa Bank, a subsidiary of Barclays Bank 
  • The group is positioned as an investment banking boutique

Vunani is involved in:

  • Securities trading and research (equities, bonds and money market)
  • Property investment and property development
  • Private equity
  • Investment banking
  • Alternative asset management
  • Corporate advisory (Equity and Debt Capital Markets)
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