FTSE Russell Factsheet

FTSE/JSE Top 40 Index

Data as at: 31 July 2017
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The FTSE/JSE Africa Index Series is designed to represent the performance of South African FEATURES
companies, providing investors with a comprehensive and complementary set of indices, which
measure the performance of the major capital and industry segments of the South African Coverage
market. The FTSE/JSE Top 40 Index consists of the
largest 40 companies ranked by investable
The FTSE/JSE Top 40 Index consists of the largest 40 companies ranked by investable market
market value in the FTSE/JSE All-Share
value in the FTSE/JSE All-Share Index.
Index.
5-Year Performance - Total Return
Objective
(ZAR)

190 The index is designed for use in the creation

180 of index tracking funds, derivatives and as a
170
160
performance benchmark.
150
Investability
140
130 Stocks are selected and weighted to ensure
120
110 that the index is investable.
100
Liquidity
Jul-2012 Jul-2013 Jul-2014 Jul-2015 Jul-2016 Jul-2017
Data as at month end Stocks are screened to ensure that the index
is tradable.
FTSE/JSE Top 40 FTSE/JSE All-Share
Transparency

The index uses a transparent, rules-based

Performance and Volatility - Total Return
construction process. Index Rules are freely
Index (ZAR) Return % Return pa %* Volatility %**
available on the FTSE Russell website.
3M 6M YTD 12M 3YR 5YR 3YR 5YR 1YR 3YR 5YR
Availability
FTSE/JSE Top 40 4.0 7.9 12.9 9.4 15.3 86.3 4.9 13.2 13.2 15.7 11.9

FTSE/JSE All-Share 2.9 6.1 10.6 7.6 17.3 85.2 5.5 13.1 12.1 14.6 10.7 The index is calculated based on price and
total return methodologies, both real time
* Compound annual returns measured over 3 and 5 years respectively
** Volatility 1YR based on 12 months daily data. 3YR based on weekly data (Wednesday to Wednesday). 5YR based on monthly data and end-of-day.

Year-on-Year Performance - Total Return Industry Classification Benchmark

Index % (ZAR) 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 Index constituents are categorized in

FTSE/JSE Top 40 19.0 -23.6 31.7 17.2 2.2 26.1 22.8 9.2 7.5 -1.6 accordance with the Industry Classification

FTSE/JSE All-Share 19.2 -23.2 32.1 19.0 2.6 26.7 21.4 10.9 5.1 2.6
Benchmark (ICB), the global standard for
industry sector analysis.
Return/Risk Ratio and Drawdown - Total Return
Index (ZAR) Return/Risk Ratio Drawdown (%)

1YR 3YR 5YR 10YR 1YR 3YR 5YR 10YR

FTSE/JSE Top 40 0.7 0.3 1.1 0.6 -9.1 -15.1 -15.1 -48.3

FTSE/JSE All-Share 0.6 0.4 1.2 0.7 -8.0 -15.0 -15.0 -45.4

Return/Risk Ratio based on compound annual returns and volatility in Performance and Volatility table
Drawdown - based on daily data

Source: FTSE Russell as at 31 July 2017. Past performance is no guarantee of future results. 1 of 3
Returns shown before the index launch date reflect hypothetical historical performance. Please see disclaimer for important legal information.
FTSE/JSE Top 40 Index Data as at: 31 July 2017

Top 10 Constituents INFORMATION

Constituent ICB Sector Net MCap (ZARm) Wgt %
Index Universe
Naspers Media 1,236,964 21.37
FTSE/JSE All-Share Index
Compagnie Financiere Richemont AG Personal Goods 571,457 9.87

BHP Billiton Mining 497,817 8.60 Index Launch

Anglo American Mining 242,287 4.19 24 June 2002
Sasol Chemicals 218,868 3.78
Base Date
MTN Group Mobile Telecommunications 212,915 3.68
21 June 2002
Standard Bank Group Banks 207,142 3.58

British American Tobacco PLC Tobacco 203,980 3.52 Base Value

Steinhoff International Holdings N.V. Household Goods & Home Construction 171,150 2.96 10300.31
Firstrand Limited Banks 165,527 2.86 Investability Screen
Totals 3,728,106 64.40
Actual free float applied and liquidity

ICB Supersector Breakdown screened

ICB Code ICB Supersector No. of Cons Net MCap (ZARm) Wgt % Index Calculation

1300 Chemicals 1 218,868 3.78 Real-time and end-of-day indices available

1700 Basic Resources 7 1,051,552 18.16 End-of-Day Distribution
2700 Industrial Goods & Services 2 164,930 2.85
Via FTP and email
3500 Food & Beverage 1 64,915 1.12
Currency
3700 Personal & Household Goods 3 946,587 16.35

4500 Health Care 4 212,179 3.66 ZAR

5300 Retail 5 328,301 5.67 Review Dates
5500 Media 1 1,236,964 21.37
March, June, September and December
6500 Telecommunications 2 302,736 5.23
History
8300 Banks 6 600,119 10.37

8500 Insurance 3 323,715 5.59

JSE: June 1995 to 21 June 2002
FTSE: From 21 June 2002 onwards
8600 Real Estate 5 209,099 3.61

8700 Financial Services 3 129,413 2.24

Totals 43 5,789,379 100.00

Index Characteristics
Attributes FTSE/JSE Top 40
Number of constituents 43

Net MCap (ZARm) 5,789,379

Dividend Yield % 2.57

Constituent Sizes (Net MCap ZARm)

Average 134,637

Largest 1,236,964

Smallest 19,889

Median 62,339

Weight of Largest Constituent (%) 21.37

Top 10 Holdings (% Index MCap) 64.40

31 July 2017

Source: FTSE Russell as at 31 July 2017. Past performance is no guarantee of future results. 2 of 3
Returns shown before the index launch date reflect hypothetical historical performance. Please see disclaimer for important legal information.
FTSE/JSE Top 40 Index Data as at: 31 July 2017

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(FTSE), (2) Frank Russell Company (Russell), (3) FTSE TMX Global Debt Capital Markets Inc. and FTSE TMX Global Debt Capital Markets Limited
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FTSE Russell is a trading name of FTSE, Russell, FTSE TMX and MTS Next Limited. FTSE , Russell , FTSE Russell MTS , FTSE TMX ,

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Data definitions available from
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Past performance is no guarantee of future results. Charts and graphs are provided for illustrative purposes only. Index returns shown may not represent
the results of the actual trading of investable assets. Certain returns shown may reflect back-tested performance. All performance presented prior to the Sydney +61 (0) 2 8823 3521
index inception date is back-tested performance. Back-tested performance is not actual performance, but is hypothetical. The back-test calculations are
based on the same methodology that was in effect when the index was officially launched. However, back- tested data may reflect the application of the
index methodology with the benefit of hindsight, and the historic calculations of an index may change from month to month based on revisions to the
underlying economic data used in the calculation of the index.

Source: FTSE Russell as at 31 July 2017. Past performance is no guarantee of future results. 3 of 3
Returns shown before the index launch date reflect hypothetical historical performance. Please see disclaimer for important legal information.