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 61.85 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
Canada (*)5 8.23%---
Germany (*)1 2.50%---
Norway (*)1 0.34%---
United Kingdom (*)3 5.11%---
Burkina Faso--1 1 2.48%
China1 2.22%-1 2.22%
Ivory Coast--1 1 2.96%
Egypt1 3.20%1 2 4.10%
Liberia1 0.46%-1 0.46%
Mauritius2 1.97%-2 1.97%
Morocco5 18.61%-5 18.61%
Nigeria4 13.08%1 5 15.58%
South Africa43 29.52%5 48 35.38%
Cayman Islands (*)1 2.96%---
Kenya3 10.90%-3 10.90%
Mali--2 2 2.86%
Zambia--1 1 2.47%
Jersey (*)1 0.90%---
Total72 100.00%12 72 100.00%

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 %
Energy1 0.21%1 0.27%0 -0.05%
Materials18 26.02%10 11.66%8 14.36%
Industrials1 0.50%1 0.62%0 -0.12%
Consumer Discretionary 7 11.98%6 11.86%1 0.12%
Consumer Staples11 9.05%11 11.32%0 -2.27%
Health Care4 1.03%3 1.01%1 0.01%
Financials21 32.62%20 40.44%1 -7.82%
Communication Services6 17.69%6 22.12%0 -4.43%
Utilities1 0.34%0 0.00%1 0.34%
Real Estate2 0.56%2 0.69%0 -0.14%
Total72 100.00%60 100.00%

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-Cap530,353,511,000 USD30 59.14%
Mid-Cap125,052,096,100 USD39 39.28%
Small-Cap2,884,035,600 USD3 1.58%
Micro-Cap---
Total658,289,642,700 USD72 100.00%
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