In December 2025, the Johannesburg Stock Exchange (JSE) welcomed the Allan Gray–Orbis Global Equity Feeder Actively Managed Exchange Traded Fund (AGOGE) and the Allan Gray–Orbis Global Balanced Feeder Actively Managed Exchange Traded Fund (AMETF) (AGOGB), broadening the range of global, actively managed exposures available to South African investors.
These new AM ETFs provide investors access to rand-denominated feeder portfolios managed by Allan Gray Unit Trust Management (RF) Proprietary Limited, which invest only (barring a small percentage in liquid assets) in underlying funds managed by Orbis, Allan Gray’s offshore investment partner.
The AGOGE AMETF targets investors who want to grow their capital over the long term by investing in an actively managed portfolio of global stocks that are considered to offer superior fundamental value.
The AGOGB AMETF, on the other hand, aims for long-term real growth through a diversified and actively managed multi-asset portfolio.
In 2025, the JSE saw a steady rise in the number of actively managed ETFs being listed, and it’s clear why. AMETFs have quickly become one of the fastest-growing segments of our listed product offering, following key regulatory reforms introduced in 2022 that enabled their listing. Since then, the JSE has welcomed consistent growth in both listings and market uptake, reflecting strong demand from investors.