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The Satrix Top 40 (STX40) is an ETF (exchange traded fund) that tracks the FTSE/JSE Top 40 providing exposure to the 40 largest shares, by market capitalisation, listed on the JSE. The Satrix 40 ETF includes the 40 shares contained in the JSE Top40 index in the same proportions. The portfolio is re-balanced every quarter in response to changes in the JSE Top 40. This ETF is dominated by a large holding of Naspers and Prosus and a 24.14% holding in various South African banks like First Rand, Standard Bank, Capitec, Nedbank and ABSA. Both Prosus and Naspers are largely invested outside of South Africa. Naspers is mostly a 29% stake in Tencent, a Chinese social media and gaming company. For complete information on the constituent details go to: <a href="https://satrix.co.za/products/product-details?id=44">https://satrix.co.za/products/product-details?id=44</a> . Buying an ETF is generally better than buying a general unit trust, because the dealing costs are far lower. The problem with investing in the Top 40 basket is that it contains a number of resource shares which can increase the risk. For a complete list of ETF's and what they offer go to <a href="https://www.etfsa.co.za/">https://www.etfsa.co.za/</a>

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