Choosing an appropriate African equity index

Broby, Daniel and Passmoor, Jennifer (2012) Choosing an appropriate African equity index. The Journal of Index Investing, 2 (4). pp. 34-41. (

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As African equity investing becomes more mainstream, investors are likely to gravitate toward an equity index family for benchmarking purposes. This article describes the challenges associated with adopting an African-based index. African equity markets are diverse and incorporate very different market capitalizations, sectors, and countries. In addition, the lack of liquidity in the various stock markets presents a large challenge. The authors conclude that as a result of the diverse methodologies, no single index truly captures the universe that investors are seeking


Broby, Daniel ORCID logoORCID: and Passmoor, Jennifer;