MVIS GDP Africa Index

The MVIS GDP Africa Index is designed to reflect the size of a country's economy instead of the size of its equity market. It defines country weightings based on a country's gross domestic product (GDP). A unique pure-play approach expands local exposure to include non-local companies that generate at least 50% of their revenues in Africa. The MVIS GDP Africa Index (MVAFK) has been licensed to underlie financial products with currently USD 52.05 million in assets under management.

Country Weightings

The white area of the table shows the number of companies incorporated in a certain country and the country's weight in the index.
Countries marked with (*) are the home of non-local companies. Non-local companies are companies, incorporated in these countries, that generate at least 50% of their revenues in the index target.

The number of non-local companies is declared in column «non-local». The count of components and weights in the grey area is achieved by reassigning the non-local companies to the country or region covered by the index.

CountryComponentsWeightNon-localComponentsWeight
Canada5 10.13%-1 2.85%
Germany (*)1 2.11%---
United Kingdom (*)4 6.59%---
Burkina Faso--1 1 2.21%
China1 2.22%-1 2.22%
Egypt1 4.63%1 2 5.50%
Liberia1 0.35%-1 0.35%
Mauritius2 1.75%-2 1.75%
Morocco5 17.02%-5 17.02%
Nigeria4 12.19%1 5 14.30%
South Africa52 29.81%3 55 32.51%
Bermuda (*)1 1.79%---
Ghana--2 2 5.67%
Kenya3 10.54%-3 10.54%
Mali--2 2 2.92%
Zambia--1 1 2.14%
Jersey (*)1 0.87%---
Total81 100.00%11 81 100.00%

Sector Weightings

The weighting of a certain sector in an index is based on the weightings of the index components allocated to this sector. The table below displays the number of index components by sectors.
The columns coloured in grey represent hypothetical values assuming that the index would not include non-local companies.

SectorComponentsWeightComponentsWeightDifferenceDifference %
Energy3 5.91%1 0.30%2 5.61%
Materials14 18.97%8 10.62%6 8.35%
Industrials3 0.60%3 0.74%0 -0.14%
Consumer Discretionary 9 12.54%8 12.82%1 -0.28%
Consumer Staples14 10.77%14 13.23%0 -2.46%
Health Care4 0.79%3 0.75%1 0.04%
Financials28 37.79%27 46.02%1 -8.23%
Telecommunication Services6 12.63%6 15.52%0 -2.89%
Total81 100.00%70 100.00%

Size Weightings

  • Large-Cap: companies with a market capitalisation above 6,000 mln USD
  • Mid-Cap: companies with a market capitalisation from 1,500 mln to 6,000 mln USD
  • Small-Cap: companies with a market capitalisation from 200 mln to 1,500 mln USD
  • Micro-Cap: companies with a market capitalisation up to 200 mln USD
SizeMarket CapComponentsWeight
Large-Cap373,183,488,900 USD21 45.94%
Mid-Cap146,153,212,600 USD50 44.49%
Small-Cap11,053,131,800 USD10 9.57%
Micro-Cap---
Total530,389,833,300 USD81 100.00%
Up