Global index provider, FTSE Group, in partnership with the African Securities Exchanges Association (ASEA) has announced the launch of the FTSE-ASEA Pan Africa Index Series.The index is an independently calculated, rules-based performance benchmark.The launch comes at a time international investors are seeking exposure to emerging and frontier markets, and focusing in particular on Africa as a source of return and portfolio diversification.The market capitalisation weighted index series measures the performance of eligible securities domiciled in 19 African countries. These are Botswana, Cameroon, Cape Verde, Egypt, Ghana, Ivory Coast, Kenya, Libya, Mauritius, Morocco, Mozambique, Nigeria, Rwanda, Sudan, Tanzania, Tunisia, Uganda, Zambia and Zimbabwe.Free floatThe index series is free float and liquidity screened, with country weights capped at 20 per cent to ensure the index maintains an accurate representation of the investible opportunity set.The index series has been built to FTSE’s renowned standards of index design, which emphasises transparency, independence, innovation and strong governance. Price and Total Return variants are calculated on an End of Day basis."This launch enables ASEA address one of its primary goals – to facilitate the development and promotion of products and services for Africa’s capital markets,” said Jonathan Cooper, Managing Director, and Middle East & Africa at FTSE GROUP." FTSE has been providing solutions to African investors for 10 years and this new initiative confirms FTSE’s position as Africa’s index provider.”Performance benchmarkThe President of the African Securities Exchanges Association, Sunil Benimadhu, stated that the launch of the FTSE-ASEA Pan Africa Index Series is a milestone.This index aims at tracking the performances of the companies listed on ASEA’s member exchanges and is expected to evolve soon as an attractive investible index that can be used as a performance benchmark for international investors investing on African Stock Exchanges. The timing of the launch is highly opportune with the growing interest of the international investment community for investment opportunities in Africa and in Africa’s listed companies.Agencies