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Index Change Advice – 20220602 Investec Plc & Ltd Unbundling of Ninety One Ltd - Update
Investec Ltd and Investec Plc (South Africa): Unbundling of Ninety One
Ltd (South Africa) - Update
FTSE/JSE Africa Index Series
26 May 2022
Subject to the completion of the unbundling of Ninety One Ltd (South Africa, constituent) shares to
Investec Ltd (South Africa, constituent) shareholders and Ninety One Plc (South Africa, constituent)
shares to Investec Plc (South Africa, constituent) shareholders, please see details of affected indexes
and effective dates below:
Effective From
Index Change
Start of Trading
FTSE/JSE Top 40 Index (J200) Ninety One Ltd Distribution line (South 26 May 2022
Africa, BKVDVV5, DUMMY0000013) will
be added to the index with a shares in
issue total of 43,852,586* and an
investability weighting of
89.299999957041%.
Ninety One Plc Distribution line (South
Africa, BKVDVW6, DUMMY0000014) will
be added to the index with a shares in
issue total of 95,718,320* and an
investability weighting of
95.854168707313%.
Investec Ltd (South Africa, B17BBR6,
ZAE000081949) will remain in the index
with an unchanged shares in issue
total of 318,904,709 and an
unchanged investability weighting of
89.299999957041%.
Investec Plc (South Africa, B1DHG40,
GB00B17BBQ50) will remain in the
index with an unchanged shares in
issue total of 696,082,618 and an
unchanged investability weighting of
95.854168707313000%.
Ninety One Ltd Distribution line will be 02 June 2022
deleted from the index.
Ninety One Plc Distribution line will be
deleted from the index.
Effective From
Index Change
Start of Trading
FTSE/JSE Mid Cap Index (J201) Ninety One Ltd Distribution line will be 26 May 2022
added to the index as detailed above.
Ninety One Plc Distribution line will be
added to the index as detailed above.
Investec Ltd will remain in the index as
detailed above.
Investec Plc will remain in the index as
detailed above.
Ninety One Ltd Distribution line will be 02 June 2022
deleted from the index.
Ninety One Plc Distribution line will be
deleted from the index.
Ninety One Ltd (South Africa, BKTT3Y2
ZAE000282356) will remain in the index
with an unchanged shares in issue
total of 300,089,454 and an increased
investability weighting from
48.109999893565% to
91.7337789754918%*.
FTSE/JSE All Share Index (J203) Ninety One Ltd Distribution line will be 26 May 2022
added to the index as detailed above.
Ninety One Plc Distribution line will be
added to the index as detailed above.
Investec Ltd will remain in the index as
detailed above.
Investec Plc will remain in the index as
detailed above.
Ninety One Ltd Distribution line will be 02 June 2022
deleted from the index.
Ninety One Plc Distribution line will be
deleted from the index.
Ninety One Ltd will remain in the index
as detailed above.
Effective From
Index Change
Start of Trading
FTSE/JSE Large and Mid Cap Index Ninety One Ltd Distribution line will be 26 May 2022
(J206) added to the index as detailed above.
Ninety One Plc Distribution line will be
added to the index as detailed above.
Investec Ltd will remain in the index as
detailed above.
Investec Plc will remain in the index as
detailed above.
Ninety One Ltd Distribution line will be 02 June 2022
deleted from the index.
Ninety One Plc Distribution line will be
deleted from the index.
Ninety One Ltd will remain in the index
as detailed above.
FTSE/JSE Financial 15 Index Ninety One Ltd Distribution line will be 26 May 2022
(J212) added to the index as detailed above.
Ninety One Plc Distribution line will be
added to the index as detailed above.
Investec Ltd will remain in the index as
detailed above.
Investec Plc will remain in the index as
detailed above.
Ninety One Ltd Distribution line will be 02 June 2022
deleted from the index.
Ninety One Plc Distribution line will be
deleted from the index.
FTSE/JSE Financial & Industrial 30 Ninety One Ltd Distribution line will be 26 May 2022
Index (J213) added to the index as detailed above.
Ninety One Plc Distribution line will be
added to the index as detailed above.
Investec Ltd will remain in the index as
detailed above.
Investec Plc will remain in the index as
detailed above.
Ninety One Ltd Distribution line will be 02 June 2022
deleted from the index.
Ninety One Plc Distribution line will be
deleted from the index.
Effective From
Index Change
Start of Trading
FTSE/JSE Equally Weighted Top 40 Ninety One Ltd Distribution line will be 26 May 2022
Index (J2EQ) added to the index as detailed above.
Ninety One Plc Distribution line will be
added to the index as detailed above.
Investec Ltd will remain in the index as
detailed above.
Investec Plc will remain in the index as
detailed above.
Ninety One Ltd Distribution line will be 02 June 2022
deleted from the index.
Ninety One Plc Distribution line will be
deleted from the index.
FTSE/JSE Equally Weighted Ninety One Ltd Distribution line will be 26 May 2022
Financial 15 Index (J4EQ) added to the index as detailed above.
Ninety One Plc Distribution line will be
added to the index as detailed above.
Investec Ltd will remain in the index as
detailed above.
Investec Plc will remain in the index as
detailed above.
Ninety One Ltd Distribution line will be 02 June 2022
deleted from the index.
Ninety One Plc Distribution line will be
deleted from the index.
FTSE/JSE RAFI All Share Index Ninety One Ltd Distribution line will be 26 May 2022
(J263) added to the index as detailed above.
Ninety One Plc Distribution line will be
added to the index as detailed above.
Investec Ltd will remain in the index as
detailed above.
Investec Plc will remain in the index as
detailed above.
Ninety One Ltd Distribution line will be 02 June 2022
deleted from the index.
Ninety One Plc Distribution line will be
deleted from the index.
Ninety One Ltd will remain in the index
as detailed above.
Effective From
Index Change
Start of Trading
FTSE/JSE RAFI All Share Capped Ninety One Ltd Distribution line will be 26 May 2022
Index (J283) added to the index as detailed above.
Ninety One Plc Distribution line will be
added to the index as detailed above.
Investec Ltd will remain in the index as
detailed above.
Investec Plc will remain in the index as
detailed above.
Ninety One Ltd Distribution line will be 02 June 2022
deleted from the index.
Ninety One Plc Distribution line will be
deleted from the index.
Ninety One Ltd will remain in the index
as detailed above.
FTSE/JSE Capped Top 40 Index Ninety One Ltd Distribution line will be 26 May 2022
(J300) added to the index as detailed above.
Ninety One Plc Distribution line will be
added to the index as detailed above.
Investec Ltd will remain in the index as
detailed above.
Investec Plc will remain in the index as
detailed above.
Ninety One Ltd Distribution line will be 02 June 2022
deleted from the index.
Ninety One Plc Distribution line will be
deleted from the index.
FTSE/JSE Capped All Share Index Ninety One Ltd Distribution line will be 26 May 2022
(J303) added to the index as detailed above.
Ninety One Plc Distribution line will be
added to the index as detailed above.
Investec Ltd will remain in the index as
detailed above.
Investec Plc will remain in the index as
detailed above.
Effective From
Index Change
Start of Trading
Ninety One Ltd Distribution line will be 02 June 2022
deleted from the index.
Ninety One Plc Distribution line will be
deleted from the index.
Ninety One Ltd will remain in the index
as detailed above.
FTSE/JSE Style Index (J330 and Ninety One Ltd Distribution line will be 26 May 2022
J331) added to the index as detailed above.
Ninety One Plc Distribution line will be
added to the index as detailed above.
Investec Ltd will remain in the index as
detailed above.
Investec Plc will remain in the index as
detailed above.
Ninety One Ltd Distribution line will be 02 June 2022
deleted from the index.
Ninety One Plc Distribution line will be
deleted from the index.
Ninety One Ltd will remain in the index
as detailed above.
FTSE/JSE RAFI 40 Index (J260) Ninety One Ltd Distribution line will be 26 May 2022
added to the index as detailed above.
Ninety One Plc Distribution line will be
added to the index as detailed above.
Investec Ltd will remain in the index as
detailed above.
Investec Plc will remain in the index as
detailed above.
Ninety One Ltd Distribution line will be 02 June 2022
deleted from the index.
Ninety One Plc Distribution line will be
deleted from the index.
FTSE/JSE All-Share Minimum Ninety One Ltd will remain in the index 02 June 2022
Variance Index (J703) as detailed above.
Effective From
Index Change
Start of Trading
FTSE/JSE All Share Comprehensive Ninety One Ltd Distribution line will be 26 May 2022
Factor Index (J203CF) added to the index as detailed above.
Ninety One Plc Distribution line will be
added to the index as detailed above.
Investec Ltd will remain in the index as
detailed above.
Investec Plc will remain in the index as
detailed above.
Ninety One Ltd Distribution line will be 02 June 2022
deleted from the index.
Ninety One Plc Distribution line will be
deleted from the index.
Ninety One Ltd will remain in the index
as detailed above.
FTSE/JSE All Share Yield Factor Ninety One Ltd Distribution line will be 26 May 2022
Index (J203DF) added to the index as detailed above.
Ninety One Plc Distribution line will be
added to the index as detailed above.
Investec Ltd will remain in the index as
detailed above.
Investec Plc will remain in the index as
detailed above.
Ninety One Ltd Distribution line will be 02 June 2022
deleted from the index.
Ninety One Plc Distribution line will be
deleted from the index.
Ninety One Ltd will remain in the index
as detailed above.
FTSE/JSE All Share Low Volatility Ninety One Ltd Distribution line will be 26 May 2022
Focused Factor Index (J203LF) added to the index as detailed above.
Ninety One Plc Distribution line will be
added to the index as detailed above.
Investec Ltd will remain in the index as
detailed above.
Investec Plc will remain in the index as
detailed above.
Effective From
Index Change
Start of Trading
Ninety One Ltd Distribution line will be 02 June 2022
deleted from the index.
Ninety One Plc Distribution line will be
deleted from the index.
Ninety One Ltd will remain in the index
as detailed above.
FTSE/JSE All Share Momentum Ninety One Ltd Distribution line will be 26 May 2022
Factor Index (J203MF) added to the index as detailed above.
Ninety One Plc Distribution line will be
added to the index as detailed above.
Investec Ltd will remain in the index as
detailed above.
Investec Plc will remain in the index as
detailed above.
Ninety One Ltd Distribution line will be 02 June 2022
deleted from the index.
Ninety One Plc Distribution line will be
deleted from the index.
Ninety One Ltd will remain in the index
as detailed above.
FTSE/JSE All Share Quality Factor Ninety One Ltd Distribution line will be 26 May 2022
Index (J203QF) added to the index as detailed above.
Ninety One Plc Distribution line will be
added to the index as detailed above.
Investec Ltd will remain in the index as
detailed above.
Investec Plc will remain in the index as
detailed above.
Ninety One Ltd Distribution line will be 02 June 2022
deleted from the index.
Ninety One Plc Distribution line will be
deleted from the index.
Ninety One Ltd will remain in the index
as detailed above.
Effective From
Index Change
Start of Trading
FTSE/JSE All Share Size Factor Ninety One Ltd Distribution line will be 26 May 2022
Index (J203SF) added to the index as detailed above.
Ninety One Plc Distribution line will be
added to the index as detailed above.
Investec Ltd will remain in the index as
detailed above.
Investec Plc will remain in the index as
detailed above.
Ninety One Ltd Distribution line will be 02 June 2022
deleted from the index.
Ninety One Plc Distribution line will be
deleted from the index.
Ninety One Ltd will remain in the index
as detailed above.
FTSE/JSE All Share Value Factor Ninety One Ltd Distribution line will be 26 May 2022
Index (J203VF) added to the index as detailed above.
Ninety One Plc Distribution line will be
added to the index as detailed above.
Investec Ltd will remain in the index as
detailed above.
Investec Plc will remain in the index as
detailed above.
Ninety One Ltd Distribution line will be 02 June 2022
deleted from the index.
Ninety One Plc Distribution line will be
deleted from the index.
Ninety One Ltd will remain in the index
as detailed above.
FTSE/JSE All Share Volatility Factor Ninety One Ltd Distribution line will be 26 May 2022
Index (J203VOF) added to the index as detailed above.
Ninety One Plc Distribution line will be
added to the index as detailed above.
Investec Ltd will remain in the index as
detailed above.
Investec Plc will remain in the index as
detailed above.
Effective From
Index Change
Start of Trading
Ninety One Ltd Distribution line will be 02 June 2022
deleted from the index.
Ninety One Plc Distribution line will be
deleted from the index.
Ninety One Ltd will remain in the index
as detailed above.
FTSE/JSE Shareholder Weighted All Ninety One Ltd Distribution line (South 26 May 2022
Share Index (J403) Africa, BKVDVV5) will be added to the
index with a shares in issue total of
43,852,586* and an investability
weighting of 89.299999957041%.
Ninety One Plc Distribution line (South
Africa, BKVDVW6) will be added to the
index with a shares in issue total of
95,718,320* and an investability
weighting of 50.465211300536%.
Investec Ltd (South Africa, B17BBR6)
will remain in the index with an
unchanged shares in issue total of
318,904,709 and an unchanged
investability weighting of
89.299999957041%.
Investec Plc (South Africa, B1DHG40)
will remain in the index with an
unchanged shares in issue total of
696,082,618 and an unchanged
investability weighting of
50.465211300536%.
Ninety One Ltd Distribution line will be 02 June 2022
deleted from the index.
Ninety One Plc Distribution line will be
deleted from the index.
Ninety One Ltd (South Africa, BKTT3Y2
ZAE000282356) will remain in the index
with an unchanged shares in issue
total of 300,089,454 and an increased
investability weighting from
48.109999893565% to
77.2562465997857%*.
Effective From
Index Change
Start of Trading
FTSE/JSE Capped Shareholder Ninety One Ltd Distribution line will be 26 May 2022
Weighted All Share Index (J433) added to the index as detailed above.
Ninety One Plc Distribution line will be
added to the index as detailed above.
Investec Ltd will remain in the index as
detailed above.
Investec Plc will remain in the index as
detailed above.
Ninety One Ltd Distribution line will be 02 June 2022
deleted from the index.
Ninety One Plc Distribution line will be
deleted from the index.
Ninety One Ltd will remain in the index
as detailed above.
FTSE/JSE Shareholder Weighted Ninety One Ltd Distribution line will be 26 May 2022
Top 40 Index (J400) added to the index as detailed above.
Ninety One Plc Distribution line will be
added to the index as detailed above.
Investec Ltd will remain in the index as
detailed above.
Investec Plc will remain in the index as
detailed above.
Ninety One Ltd Distribution line will be 02 June 2022
deleted from the index.
Ninety One Plc Distribution line will be
deleted from the index.
FTSE/JSE Capped Shareholder Ninety One Ltd Distribution line will be 26 May 2022
Weighted Top 40 Index (J430) added to the index as detailed above.
Ninety One Plc Distribution line will be
added to the index as detailed above.
Investec Ltd will remain in the index as
detailed above.
Investec Plc will remain in the index as
detailed above.
Ninety One Ltd Distribution line will be 02 June 2022
deleted from the index.
Ninety One Plc Distribution line will be
deleted from the index.
Effective From
Index Change
Start of Trading
FTSE/JSE Shareholder Weighted Ninety One Ltd Distribution line will be 26 May 2022
Financial 15 Index (JSZ2) added to the index as detailed above.
Ninety One Plc Distribution line will be
added to the index as detailed above.
Investec Ltd will remain in the index as
detailed above.
Investec Plc will remain in the index as
detailed above.
Ninety One Ltd Distribution line will be 02 June 2022
deleted from the index.
Ninety One Plc Distribution line will be
deleted from the index.
FTSE/JSE Shareholder Weighted Ninety One Ltd Distribution line will be 26 May 2022
Financial & Industrial 30 Index added to the index as detailed above.
(JSZ3)
Ninety One Plc Distribution line will be
added to the index as detailed above.
Investec Ltd will remain in the index as
detailed above.
Investec Plc will remain in the index as
detailed above.
Ninety One Ltd Distribution line will be 02 June 2022
deleted from the index.
Ninety One Plc Distribution line will be
deleted from the index.
FTSE/JSE Responsible Investment Ninety One Ltd Distribution line will be 26 May 2022
Index (J113) added to the index as detailed above.
Investec Ltd will remain in the index as
detailed above.
Ninety One Ltd Distribution line will be 02 June 2022
deleted from the index.
* The number of shares and investability weighting change is based on the unbundling terms of
0.13751 Ninety One Ltd shares for each Investec Ltd share, and 0.13751 Ninety One Ltd shares for
each Investec Plc share.
The unbundling has been applied as a neutral event within the common index memberships,
therefore the investability weight for Ninety One Ltd will temporarily differ between the
FTSE/JSE All Share and Shareholder Weighted Indices, and will be re-aligned as of the June
review date (effective from 20 June 2022). The review ranking will be conducted using the
review investability weighting and using an adjusted price due to the unbundling.
Please note: The date for the distribution line removal, and investability weight increase, is based on
the settlement date of the unbundling being Tuesday 31 May 2022.
Effective Thursday 26 May 2022:
A capital repayment will be applied to Investec Ltd and Investec Plc to reflect the value of the
unbundling, which is represented by the distribution line, added with an ICB classification of 30101010
(Banks).
For further information please contact FTSE Russell Client Services at info@ftserussell.com or indices@jse.co.za or call:
Australia +1800 653 680
Hong Kong +852 2164 3333
Japan +81 3 6441 1440
London +44 (0) 20 7866 1810
New York +1866 551 0617
JSE Limited +27 11 520 7000
Alternatively please visit our website at www.ftserussell.com or www.ftsejse.co.za
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Date: 26-05-2022 05:50:00
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