Informative Notice - 20261001 Termination of SAPY and PCAP Indices
CORPORATE
Termination of SAPY and PCAP - Informative Notice
01 October 2026
FTSE/JSE would like to draw clients’ attention to the Market Consultation that was published in December 2016 as well
as the Informative Notice published in January 2025. The purpose of the consultation was to introduce three new
property indices, which were intended to replace the FTSE/JSE SAPY Index (J253/SAPY) and the FTSE/JSE Capped
Property Index (J254/PCAP). The informative notice was published to communicate the termination of the SWIX indices
as well as the postponement of the termination of the J253 and J254, in order to allow index users some time to switch
to the newer property indices.
This notice serves to confirm that the SAPY and the PCAP will be decommissioned after market close on 30 September
2027, effective from 1 October 2027.
Users of the SAPY and PCAP indices are encouraged to transition ahead of the decommission date, to the following
alternative property indices, which have been available since the publication of the market consultation
Index Underlying
Index name Category Intended use Cap Constituents
code Index
J800 PROP - Tradable Property Tradable Index Tradable Index 15% 10 ALSI & Fledgling
J803 ALPI -All Property Benchmark Index Benchmark Index 15% 22 ALSI & Fledgling
J805 REIT - SA REIT SA REIT Specialist Index 15% 15 ALSI & Fledgling
JI0035 Real Estate ICB Industry Benchmark Index 19 ALSI
Real Estate Investment & Services ALSI
JS3511 ICB Sector Benchmark Index 4
Development
JS3512 Real Estate Investment Trusts ICB Sector Benchmark Index 15 ALSI
Please note that the FTSE/JSE Africa Index Series Ground Rules reflecting the termination of the SAPY and PCAP
will be updated in due course. Index users are reminded that all methodology updates are subject to review and approval
by the FTSE Russell Index Governance Board and will be considered in line with FTSE Russell’s Policy for
Benchmark Methodology Changes.
For further information please contact FTSE Russell Client Services at info@ftserussell.com or call:
Australia +1800 653 680
Hong Kong +852 2164 3333
Japan +81 3 6441 1430
London +44 (0) 20 7866 1810
New York +1866 551 0617
JSE Limited +27 11 520 7000
Alternatively please visit our website at lseg.com/ftse-russell
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Date: 01/10/2026 05:27:00
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