FTSE Russell, a global index and data provider wholly owned by London Stock Exchange Group, has recently launched its new FTSE NSX Index Series, designed to represent the performance of Namibian companies.

The Index Series were launched on July 1 in cooperation with the Namibian Stock Exchange (NSX) and includes a new capped index, the FTSE NSX Capped Overall Index.

Donald Keith, Deputy CEO, FTSE Russell said: “The launch of a series of indexes for investors comprised of the securities listed on NSX, is an important step for the market and country as a whole. We look forward to working with NSX to further develop this index series and create innovative index products for this market.” 

FTSE Russell has calculated Namibian-focused indexes since 2002 but these were previously included in the broader FTSE JSE Index Series.

The existing Namibian-focused indexes have been separated from the FTSE JSE Index Series and incorporated in the new series, which includes more than 20 indexes in total.

The FTSE NSX Index Series provids market participants with a comprehensive and complementary set of indexes, which measure the performance of the major capital and industry segments of the Namibian market.

Stocks in the underlying universe are screened to ensure that the index is tradable.

The Index Series have its own Ground Rules, which describe the underlying universe from which constituents are drawn, the eligibility criteria and the frequency at which the composition of the indexes are reviewed.

Tiaan Bazuin, Chief Executive Officer, NSX said: “NSX is committed to the growth and development of the financial market in Namibia.”

“The launch of this new dedicated Namibian index series is a testament to the development of the country’s financial markets. We are pleased to be working with FTSE Russell to build these indexes, which we believe will further encourage investor participation in our markets,” he said.