As part of its mission to represent a high-profile research center based in Africa and dedicated to African markets, Attijari Global Research, a subsidiary of the Attijariwafa bank group, is launching a new index called AGR Africa Bond Index “Code Bloomberg AGRAFBDT”, announces a release of the company.
Intellectual owner of the index, AGR has partnered with S&P, a world leader in calculating and designing indices. AGR Africa Bond Index represents a Total Return Index denominated in USD. Its basic universe is sovereign credit risk in Africa. To better get closer to the economic reality across the continent, a series of eligibility criteria were selected for the deposits, particularly in terms of size, liquidity and rating.
The interest of this index is to track sovereign debt issues issued by African countries and denominated in foreign currencies. It allows to:
- analyze debt behavior generally in the Hemisphere;
- follow a profitable financing vehicle in full expansion in Africa;
- present an investment benchmark that could be replicated while meeting investment standards, size, diversification, and liquidity standards.