Our Journey

In February, Satrix introduced two new global feeder funds, the Satrix MSCI Japan ETF and the Satrix Stoxx Europe 600 ETF, providing investors access to developed markets and greater global diversification. 

From pioneering South Africa’s first ETF to reaching R300bn in assets, Satrix continues to shape the investment landscape in South Africa making markets accessible, transparent and empowering for all.

In November, Satrix introduced the Satrix Global Factor Enhanced Feeder Index Fund, designed to systematically capture global investment factors through a bespoke contextual factor model, targeting long-term capital growth.

Satrix obtained its own Category II licence, authorising the company to manage investments on behalf of clients and make discretionary decisions regarding assets in accordance with agreed mandates. Previously, this licence was held by Sanlam Investments Management.

By October, Assets Under Management reached R300 billion, driven by LISP adoption, dual listings, retail investor growth and market performance.

In July, the Satrix MSCI World ETF dual listed on the Nairobi Securities Exchange (NSE), offering Kenyan retail and institutional investors global market access. The listing marked the second cross border listing on the continent.

At the eighth annual SALTAs, Satrix won ten awards, including the People’s Choice Award for both local and foreign ETP categories. The Satrix Top 40 ETF’s eighth consecutive win and the Satrix MSCI World ETF 2nd consecutive win.

By year end, Satrix listed three new ETFs, including South Africa’s first global balanced ETF: Satrix MSCI ACWI, Satrix JSE Global Equity, and Satrix Global

Balanced Fund of Funds ETFs, an addition to the Satrix Access Range, now with five flagship funds designed to appeal to novice investors.

At the seventh annual SALTAs, Satrix won ten awards, including both People’s Choice awards, the People’s Choice Local ETP for Satrix Top 40 ETF, and the inaugural Foreign ETP for the Satrix MSCI World ETF.

Following the Sanlam Investments and Absa Investment Management merger, Satrix absorbed 15 Absa NewFunds ETFs, rebranding or amalgamating funds as appropriate.

By December, Assets Uder Management reached R200 billion, driven by product expansion, retail investors growth, and the acquisition of Absa NewFunds ETFs.

Satrix received nine awards at the annual SALTAs, including a sixth consecutive People’s Choice Award for the flagship Satrix Top 40 ETF, reaffirming the lasting power and longstanding trust retail investors held in the fund.

The Satrix MSCI World ESG and Satrix MSCI Emerging Markets ESG lists on the JSE.

For the second year running, Satrix won the highly coveted Morningstar Award for Best Fund House: Larger Fund Range, signalling a shift towards and growing recognition for indexation. Satrix also won a fifth consecutive People’s Choice Award, among eight other SALTAs.

By November, Satrix listed the Satrix Capped All Share and the Satrix Inclusion and Diversity ETFs. The latter index includes 30 companies listed on the JSE that exhibited the most diversity and inclusion among their executive and management teams, as well as BEE metrics.

In March, Satrix became the first index-tracking issuer to win an industry-coveted Morningstar Award for Best Fund House: Larger Fund Range category. We also won ten awards at the annual SALTAs, including a fourth consecutive People’s Choice Award for the flagship Satrix Top 40 ETF, South Africans’ favourite exchange traded product by poll.

Harvard Business School published an MBA case study on the 2017 Satrix Top 40 ETF fee reduction, a prestigious accolade, highlighting the strategic decision to reduce the fee, and its impact on market access and competition.

By September, Satrix listed four new ETFs, including the SA Bond, Global Aggregate Bond, MSCI ESG, and MSCI China ETFs. The Satrix MSCI China ETF was the most successful Satrix initial public offering (IPO) to date.

At the third annual SALTAs, Satrix won seven awards, including a third consecutive People’s Choice Award for the Satrix Top 40 ETF. In a time of market uncertainty, Satrix’s flagship fund remained steadfast as South Africa’s favourite exchange traded product.

Amid the global COVID-19 pandemic, Satrix migrated clients from the Satrix Investment Plan, established in 2006, to SatrixNOW offering real-time market access, greater transparency, lower fees and no minimums.

By year-end, Assets Under Management reached R100 billion, driven by product proliferation, retail investor growth, and the expansion into non-domestic exchanges.

Satrix won four awards at the 2019 SALTAs, including a second consecutive People’s Choice Award for the Satrix Top 40 ETF. The People’s Choice award, voted for by retail investors via online poll, highlighted the popularity and trust in the Satrix Top 40 ETF.

In April, Satrix launched the proprietary Satrix SmartCore™ Index Fund, a unit trust combining multiple investment factors to deliver enhanced returns. This launch signalled a new step in the evolution of index investing in South Africa, the multi-factor model.

In March, Satrix dual-listed the MSCI World, MSCI Emerging Markets, S&P 500, and Nasdaq 100 ETFs on the Namibian Stock Exchange (NSX), marking our first cross-border listing on the continent.

In August, Satrix launched the Satrix Factor Tool, an interactive digital resource designed to help investors understand and apply factor investing strategies across the ETF range. The tool offer insights into factors influences, maps each factor to relevant Satrix ETFs, and provides scenario analysis for users to explore how factor tilts.

Satrix won three awards at the inaugural South African Listed Tracker Awards (SALTAs), including the Peoples’ Choice Award for the Satrix Top 40 ETF, as voted by the public. The awards programme is an industry initiative by Thomson Reuters, etfSA, and Profile Data.

In April, Satrix listed its fourth global ETF, the Satrix Nasdaq 100 ETF, tracking the performance of 100 of the largest US companies on the Nasdaq exchange. Also listed in 2018 was the Satrix Momentum ETF, a rules-based fund based on the factors that indicate upward momentum of JSE-listed equities.

Satrix and EasyEquities won Best InvesTech and Best FinTech Company in Africa awards at the 2017 FinTech Africa Awards in October. The awards gave recognition to our growing reputation as the champion for democratising investments in South Africa and as a digital innovator in the investment industry.

Satrix reduced the fee on the flagship Satrix Top 40 ETF from 0.38% to 0.10%. delivering substantial and lasting value to investors. This landmark fee reduction become the subject of a Satrix Harvard Business School MBA case study, published in August 2020.

July saw the listing of our first global ETFs - MSCI World, MSCI Emerging Markets, S&P 500 - alongside Property, Inflation-Linked Bond, and Quality South Africa ETFs. To support novice investors, the Satrix Access Range, a collection of four flagship funds, was introduced.

Assets Under Management reached R50 billion at the start of the year, driven by the introduction of new index tracking unit trusts, multi-asset investment strategies, and productive partnerships.

The Satrix Money Market Fund launched in December, broadening the product suite to cater to a wider array of risk appetites. The money market fund accommodates investors preferring less volatility and thus a lower risk product.

In October, SatrixNOW and EasyEquities won the Best African FinTech Company Award at the 2016 Finance Indaba Africa. The award recognised our efforts to democratise investing through digital innovation – through our partnership which continues to this day.

SatrixNOW, powered by EasyEquities, launched in December – welcoming a new era of digital investing with minimum investment requirements reduced to

nearly zero. The fully digitised interface and online registration transformed the experience for retail investors. A mobile app followed five years later, in 2020.

In March the Tax-Free Savings Account (TFSA) was introduced by Treasury, created to encourage saving and investing for South Africans by removing tax on interest, dividends, and capital gains earned. At launch, SatrixNOW accounts automatically included a TFSA investment option.

In July, Satrix launched the Satrix Low Equity Balanced Index Fund - a Regulation 28 compliant, multi-asset fund suitable for retirement investment.

In October, Satrix launched its first global product, the Satrix MSCI World Equity Index, and the first multi-asset unit trust, the Satrix Balanced Index Feeder Fund. The year ended with the consolidation of Sanlam Investment Management index funds under the Satrix brand, marking a major step in expanding both products and reach.

Sanlam acquired full ownership of Satrix by purchasing Deutsche Bank’s 50% stake. This move signalled Sanlam’s commitment to indexation and paved the way for international ETFs. Satrix absorbed six Sanlam Investment Management (SIM) unit trusts and began expanding into additional asset classes.

Satrix launched its first unit trusts in August. This expansion broadened the Satrix appeal, giving investors, advisers, and LISPs (Linked Investment Service Providers) more ways to access low-cost diversified investments.

Assets Under Management reached R10 billion, driven by institutional and retail ETF adoption, product innovation, and post crisis market recovery.

As the economy recovered in late 2009, the Satrix DIVI ETF started the year as the top-performing domestic equity CIS (over 3 years to 31 Dec). Between 2008 and 2012 the Dividend Index consistently beat the All Share Index, highlighting the value in diversified investment strategies.

Satrix became jointly owned by Deutsche Bank and Sanlam in a 50/50 partnership.

Satrix listed another smart-beta fund, the Satrix RAFI ETF in October, ranking companies on fundamentals – sales, cash flow, book value, and dividends – capping weightings at 10% and using rules-based methodology instead of company size.

The 2008 global financial crisis severely impacted South African investors and the economy, plunging equity markets and causing the first recession in 17years.

The first smart-beta ETF listed in August, the Satrix DIVI ETF. Tracking the 30 highest dividend-paying companies on the JSE, it was the first ETF to weight holdings by company performance, not size. It offered a new way to earn income while diversifying and remains popular today.

The Satrix RESI and Satrix SWIX 40 ETFs listed, offering exposure to the resource sector and an alternative weighting of the top 40, beyond standard market capitalisation.

The new Satrix Investment Plan made investing more accessible for South Africans. Brokerage fees were around R100 per transaction, with monthly minimums of at least R500. The Satrix Investment Plan reduced minimums to R300 per month or R1 000 annual lump sum.

Satrix officially registered as a Collective Investment Scheme (CIS) in Securities. This enabled new products, like retirement and pension fund vehicles, improved ETF tax efficiency, and greater scope for innovation and opportunity to scale.

The Satrix FINI and Satrix INDI ETFs made their debut on the JSE in February. As South Africa’s first sector-specific ETFs, these funds gave investors direct access to the local financial and industrial sectors, enabling greater variety, diversification, and tactical asset allocation for investors.

Satrix began as a joint venture between the Johannesburg Stock Exchange (JSE), Gensec Bank, and Corpcapital. On 27 November, South Africa’s first exchange traded fund (ETF) lists on the JSE, the Satrix Top 40 ETF, with a R2.6bn IPO. This listing marked the dawn of democratised investing, fundamentally changing how South Africans participate in the market.