Anchor Capital lists two active ETFs on JSE

Anchor Capital has listed two actively managed exchange-traded funds (AMETFs) on the JSE, giving investors access to its local and global equity strategies through a listed ETF structure.

The two funds – the Anchor EasyETFs Aspirant Global Equity AMETF and the Anchor EasyETFs Aspirant SA Equity AMETF – were listed last week (25 May).

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EasyETFs, a subsidiary of the Easy Group, will serve as the management company for both products. Easy Group is majority-owned by Purple Group.

The launch forms part of a partnership between Anchor Capital and EasyEquities as both firms expand in the ETF market.

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Keiran Witthuhn, portfolio manager at Anchor Capital, says investors are becoming more fee-sensitive and are demanding lower-cost, more transparent products that provide access to active strategies.

“We believe we are still early to the party here and that lots of active managers will continue releasing AMETFs of their own,” he adds.

Anchor’s global equity AMETF provides exposure to a concentrated portfolio of global equities. The portfolio includes companies such as Alphabet, Ferrari, Fortinet and Uber.

Reko Nare, portfolio manager at Anchor Capital, says the fund offers South African retail investors a rand-denominated entry point into the firm’s global equity strategy, with a potential US dollar-denominated version in future if there is sufficient demand.

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The local equity AMETF tracks Anchor’s local equity house strategy and, according to the company, is the first fully discretionary local equity AMETF listed on the JSE that does not use factor strategies.

Witthuhn says the local fund is more “benchmark-aware” than the global strategy because macroeconomic factors tend to drive the South African equity market.

David Oberholzer, business manager at EasyETFs, says Anchor’s listing addresses a gap in the local AMETF market, which has so far been concentrated in global equity and multi-asset strategies.

The JSE amended its listing requirements in 2022 to allow AMETFs to list and trade. Since then, the segment has become one of the exchange’s faster-growing product categories.

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