New Africa ETF Worth a Look

There is a new Africa ETF out and trading, courtesy of the people at Van Eck Global. Modeled on the Dow Jones Africa Titans 50 Index, the Africa Index ETF is intended to give investors direct exposure to African economies via companies with the largest presence there, whether headquartered there or elsewhere.

Ticker is AFT (although doesn’t show up yet), and it is heavily weighted to banks and resources. Here is the list of the top 25 current holdings:

MOBILE TELECOMMUNICATIONS CO  ZAIN KK
TULLOW OIL PLC  TLW LN
SASOL LTD.  SOL SJ
FIRST BANK OF NIGERIA PLC  FIRSTBAN NL
ORASCOM TELECOM HOLDING  ORTE EY
ORASCOM CONSTRUCTION INDS  OCIC EY
ZENITH INTERNATIONAL BANK LTD.  ZENITHBA NL
IMPALA PLATINUM HOLDINGS LTD.  IMP SJ
MTN GROUP LTD.  MTN SJ
MAROC TELECOM  IAM MC
INTERCONTINENTAL BANK PLC  INTERCON NL
ATTIJARIWAFA BANK  ATW MC
UNITED BANK FOR AFRICA PLC  UBA NL
DOUJA PROMOTION GROUPE ADDOHA  ADH MC
FIRST QUANTUM MINERALS LTD.  FM CN
GUARANTY TRUST BANK PLC  GUARANTY NL
ACERGY SA  ACY NO
UNION BANK OF NIGERIA PLC  UBN NL
NIGERIAN BREWERIES PLC  NB NL
BANQUE MAROCAINE DU COMMERCE EXT.  BCE MC
STANDARD BANK GROUP LTD.  SBK SJ
REMGRO LTD.  REM SJ
RANDGOLD RESOURCES LTD.  GOLD US
ANGLO PLATINUM LTD.  AMS SJ
ANGLOGOLD ASHANTI LTD.  ANG SJ

And here is the country breakdown:

SOUTH AFRICA 24.72%
OFFSHORE 24.32% 
   ANGOLA  1.98%
   DR CONGO  1.54%
   EQUATORIAL GUINEA  6.22%
   GHANA   0.66%
   MALI   1.73%
   NIGERIA   7.30%
   SOUTH AFRICA  1.52%
   ZAMBIA  3.37%
EGYPT  13.09%
MOROCCO  11.44%
KENYA     1.18%

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