The Johannesburg Stock Exchange (JSE) has granted UBS AG, London Branch (UBS) approval for the listing of five new Actively Managed Certificates (AMCs), providing investors with more opportunities to gain exposure to one of the fastest-growing securities globally.
The listing of UBS AMCs is linked to several Reference Portfolios including the SA Asset Management Local and Global Growth Portfolios, the Mergence Global Quant Equity Portfolio, the SBT Global Flexible Portfolio, and the FNB Local Select Portfolio.
The listed AMCs aim to deliver real returns to investors by investing in focused portfolios of high conviction, quality growth stocks.
“The AMC product has proven itself in the local market over the last 6-years and is definitely continuing to gain broader traction and acceptance within the local investment community. We welcome the ongoing interest as well as the new managers which joined our programme last week,” says John Slettevold, Managing Director at UBS.
UBS is a multinational investment bank and financial services company founded and based in Switzerland. Co-headquartered in the cities of Zürich and Basel, it maintains a presence in all major financial centres as the largest Swiss banking institution and the largest private bank in the world.
“The growing demand for AMCs is indicative of investors’ need for reliable and efficient investment management services. With the complexity of financial markets and the rising demand for sophisticated investment products, AMCs have become a viable option for individual investors looking to access the financial markets’ benefits,” said Adèle Hattingh, Manager of Exchange Traded Products at the JSE. “The listing of these five new AMCs is indicative of our commitment to exploring solutions that will meet the needs of investors and enable them to diversify their investment portfolios.”
AMCs are instruments that offer investors exposure to the performance of a portfolio that is actively managed by an independent portfolio manager according to a specific investment mandate. AMCs usually reference a portfolio of assets with underlying’s which include liquid securities, derivatives, commodities, and currencies.
Last year, the Financial Sector Conduct Authority (FSCA) approved amendments to the JSE’s listing requirements enabling issuers to list and trade Actively Managed Certificates (AMCs) and Actively Managed ETFs (AMETFs) for the first time. As at April 2023, there were 27 AMCs (including the new UBS AMCs) listed on the Exchange with a market capitalisation of R7.7 billion.
