Retailer Pick n Pay and property group Growthpoint Properties have been added to the JSE's Top 40 index of blue chip companies, replacing construction firms Murray and Roberts and Aveng, the local bourse operator said on Thursday.

All changes relating to constituents, sectors, free float and shares in issue will be applied after the close of business on December 19 2008 and will be effective on December 22 2008.

Constituents of the FTSE/JSE Top 40 Index are reviewed on a quarterly basis.

The main benefit to a company being included in the FTSE/JSE Top 40 Index is that the inclusion increases visibility of the company to investors and also attracts large investments through funds that track the index.

The index contains the largest 40 stocks by market capitalisation listed on the JSE. Not all listed companies automatically make it into an index as they have to comply with the indices rules, which set qualification criteria for inclusion in this index.

Source: I-Net Bridge