Investment Analysts Society of South Africa (NPC)

The IAS is a non-profit making body and was registered in 1968 as an “association not for gain”. We function as a liaison body for the investment analysts profession.

The IAS currently has 1800 members drawn from all walks of the analysts profession including Investment Banks and Houses, Fund Managers, Brokers, Insurance Companies, pension Funds, etc. In order to qualify for membership applicants must be employed in the field of investment analysis and must have either a post graduate business qualification or at least 3 years experience as an investment analyst.

We adopted a “Code of Good Practice”, a copy of which is presented on this website for your information.

Each year, the IAS promotes a prestigious awards ceremony in recognition of the skills of those listed companies who win the award for “Best Communicating and Reporting”.

Board Members


Christopher-GilmourChristopher Gilmour, B Sci (Hons), Post Grad Dip Financial Studies, Chemistry

Board Member & Chair

Investment Analyst, Absa Investments, Barclays Africa Group Ltd Accounting, Banking and Finance.  Previously, Investment Analyst, Vice President – Davis Borkum Hare, and

Associate editor, Investment writer – Financial Mail



G E ElstonGarreth E. Elston MBA, MA, BCom, CAIB (SA), FIFM

Board Member & Deputy Chair

Garreth is an international portfolio manager with Alternative Real Estate Capital Management, he specializes in investment management, equity research and investment strategy. He has significant portfolio management experience having managed listed and unlisted investments in proprietary, unit trust and private equity portfolios in South Africa, Europe and North America.


Arthur Thompson 2

Arthur Thompson, CFA

Board Member

Arthur is a Director at Integre Investment Management based in Johannesburg


Mike Brown

Mike Brown, BA (Econ)  BA (Hons)

Board Member

Mike is the Managing Director of, a website based financial intermediary service focused on Exchange Traded Funds (ETF’s)


Mark InghamMark Ingham

Board Member

Mark is a director for Ingham Analytics Ltd and provides analytical services to a select few South African and international clients in stock broking, fund management and private equity and to listed and private corporations.  His past employers include accounting practice Deloitte Haskins & Sells and stockbrokers Frankel Pollak.


Peter duToitPeter Du Toit

Board Member

Peter du Toit is active in investment analysis, fund managing and corporate finance.  He retired from the RMB Group in 2001 to focus on various corporate interests including the establishment of REZCO Value Trend.  He joined the Investment Analysts Society in 1970 and has been on their board since 1980.  He held the position of Chairman in the mid 1980s and early 1990s.


Jacques Theron

Jacques Theron, B Com (Econ), B Com Hons (Investments)

Board Member

Jacques is a portfolio manager at Old Mutual Wealth Private Client Securities with 18 years market experience and specialises in investment management and structuring portfolios.


Cor van Zyl

Cor Van Zyl, B Com (Hons), CA (SA)

Board Member & CFO

Cor has been CFO for Advanced Health Limited since January 2014.  Having experience in the audit profession (Coopers & Lybrand), moved into commerce industry 5 years FD at Afrox Healthcare and 6 years FD at Afrox


Dana Yerushalmy C

Dana Yerushalmy

Board Member

Senior Financial Planner

ABSA Private Bank


Ann Marie Wood Resized

Ann Marie Wood

Executive Officer

Ann Marie has vast experience with CFA Institute, CFA Society South Africa and Investment Analysts Society of South Africa