OVERALL FIRMS FOR RESEARCH
FUND MANAGERS COMMISSION WEIGHTED All sectors weighted
Rank Firm 1 2
Equity sectors weighted
FUND MANAGERS AUM WEIGHTED Sectors unweighted
% of votes Rank % of votes Rank % of votes
All sectors weighted
Equity sectors weighted
FUND MANAGERS UNWEIGHTED
Sectors unweighted
All sectors weighted
Equity sectors weighted
Sectors unweighted
Rank % of votes Rank % of votes Rank % of votes Rank % of votes Rank % of votes Rank % of votes
RMB Morgan Stanley
19.2%
1
18.5%
2
18.0%
2
18.7%
2
18.0%
2
17.7%
2
18.6%
2
18.0%
2
17.7%
Standard Bank SBG Securities
18.8%
2
18.3%
1
19.2%
1
18.8%
1
18.2%
1
19.2%
1
22.6%
1
22.5%
1
23.2% 8.3%
3
JPMorgan
9.4%
3
9.6%
4
7.4%
3
9.0%
3
9.2%
5
7.0%
3
9.6%
4
10.2%
4
4
Investec Securities
7.6%
4
8.8%
6
5.7%
4
7.5%
4
9.0%
6
5.5%
6
6.1%
5
7.2%
6
4.7%
5
Avior Capital Markets
6.9%
5
8.2%
5
7.2%
5
7.2%
5
8.8%
4
7.4%
4
9.5%
3
10.8%
3
9.6%
6
Absa CIB
6.6%
7
5.9%
3
7.5%
6
6.3%
7
5.2%
3
7.6%
5
7.0%
6
6.5%
5
7.8%
7
UBS SA
5.7%
6
6.8%
7
4.5%
7
5.2%
6
6.5%
8
3.9%
7
4.7%
7
5.7%
8
3.4%
8
HSBC Securities
4.8%
8
5.1%
8
4.0%
9
4.3%
9
4.6%
9
3.7%
9
3.2%
9
3.4%
9
2.5%
9
Nedbank Securities
4.2%
9
4.1%
9
3.6%
8
5.0%
8
4.8%
7
4.4%
8
4.6%
8
4.3%
7
4.0%
Bank of America Merrill Lynch
3.0%
10
2.9%
n/a
2.3%
10
2.9%
10
2.9%
n/a
2.2%
n/a
2.4%
10
2.2%
n/a
1.7%
n/a
Noah Capital Markets
2.3%
n/a
2.0%
n/a
2.3%
n/a
2.5%
n/a
2.4%
n/a
2.2%
10
2.5%
n/a
2.2%
10
2.4%
n/a
Prescient Securities
1.3%
n/a
1.3%
10
3.0%
n/a
1.5%
n/a
1.5%
10
3.4%
n/a
0.8%
n/a
0.8%
n/a
2.0%
10
Number of firms that received one or more votes: 38