AFRICA - Standard & Poor's has expanded its Africa Index Series with the addition of the S&P Pan Africa, S&P Africa Frontier and S&P Africa 40 indices.
Steve Goldin, vice president, portfolio services, for Standard & Poor's, said: "The strong performance of many African markets has made the region an increasingly attractive investment opportunity. These three new indices provide investors with a unique exposure to the African equity markets."
The S&P Pan Africa Index covers 12 African markets - Botswana, Cote D'Ivoire, Egypt, Ghana, Kenya, Mauritius, Morocco, Namibia, Nigeria, South Africa, Tunisia and Zimbabwe - while the S&P Africa Frontier Index focuses on eight smaller frontier markets from sub-Saharan Africa, including Botswana, Cote d'Ivoire, Ghana, Kenya, Mauritius, Namibia, Nigeria and Zimbabwe.
They aim to capture 80% of the total market capitalisation of each country, and thus provide investors with a comprehensive benchmark on African markets.
The S&P Africa 40 Index, dominated by companies from the financial, materials, telecommunications and industrials sectors, is designed to provide tradable exposure to 40 of the largest and most liquid companies that operate purely in Africa.
Companies must be domiciled in Africa or have the majority of their assets and operations in Africa. MTN Group (South Africa), Orascom Construction (Egypt), First Quantum Minerals (Zambia) and Standard Bank Group (South Africa) are among the largest constituents.
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There have now been a total of 47 buy-in and buyout deals of over £500m announced since 2007. The full list, provided courtesy of LCP, is as follows...