BSE welcomes second ETF

The BettaBeta tracks the performance of the FTSE/JSE Top 40 Index, which itself consists of the top performing global companies across sectors such as industrial, resources and financials. Each BettaBeta share represents a stake in the performance of each of the Top 40 companies, which include Anglo America, Old Mutual, Investec, MTN, SABMiller and BHP Billiton.

At the listing, executives with African Alliance - the BettaBeta's local market maker - said the comparatively low volume of units sold at listing suggested retail investors were responsible for trading witnessed. "Institutional investors are likely to come in at a later stage, having first seen how the ETF works in practice and having learnt more about its operations," one executive said. "Today's listing session has also demonstrated the flexibility of the ETF in that investors are able to purchase any amount of units; even one."