Prosus is the €143bn Dutch-listed holding company for South African media conglomerate Nasper’s various technology bets – which include a stake of a third of Tencent, the Chinese tech conglomerate. News from Swiss index provider Stoxx this sunny Wednesday morning is that it will add Prosus to its blue-chip Stoxx 50 index.
The Stoxx 50 acts as the blueprint for hundreds of passive investment products, whether they be open-ended funds or ETFs. Among its constituents are storied continental names such as LVMH, Siemens and Unilever. So a company making the cut is a big deal both in terms of reputation, and its prospective shareholding base.
What’s really of note here is what Prosus’ index inclusion now means for investors looking to diversify their passive investments across the globe.