• M Ward and RC Terblanche
  Market timing on the JSE using exchange rate fluctuations
• A Herringer, C Firer and S Viviers
  Key challenges facing the socially responsible investment (SRI) sector in South Africa
• E Maré*
  How does traditional option hedging perform in the South African equity market?
• N Bhana
  The chairman’s statements and annual reports: Are they reporting the same company performance to investors?
• JH Venter
  Intraday momentum and contrarian effects on the JSE

• PG Basiewicz and CJ Auret – Another look at the cross-section of average returns on the JSE
• R Mangani – Macroeconomic effects on individual JSE Stocks: a GARCH representation
• S Viviers, JK Bosch, EvdM Smit and A Buijs – Responsible investing in South Africa
• S Janse van Rensburg, D Friskin and GD Sharp – A distributional comparison of size-based portfolios on the
• AJ du Plessis and M Ward – A note on applying the Markowitz portfolio selection model as a passive investment strategy on the JSE

• N Bhana – The market reaction to capital expenditure announcements
• S Viviers, JK Bosch, EvdM Smit and A Buijs – The risk-adjusted performance of responsible investment funds in South Africa
• L Bonney, G Shannon and N Uys – Modelling the Top40 volatility skew : A principal component analysis approach
• CJ Auret and JHC Britten – Post-issue operating performance of firms listing on the JSE
• C Firer, E Gilbert and A Maytham – Dividend policy in South Africa

• R Kruger and P van Rensburg – Evaluating and constructing equity benchmarks in the South African portfolio management context
• NL Samouilhan and G Shannon – Forecasting volatility on the JSE
• JH Venter – The profitability of CFD day trading on the JSE
• B Swart and A Venter – Analysing some exotic options: EDS, instalment shares
• D Taylor and W van Zyl – Hedging employee stock options and the implications for accounting standards

• Nedbank Limited

Section I: Resources – Diamonds, Precious Metals & Minerals, Coal

• Gold Fields Limited

Section II: Resources – Mining Finance & Other Mineral, Extractors & Mines

• African Rainbow Minerals Limited

Section III: Resources – Oil and Gas, Chemicals Steel & Other Metals, Forestry & Paper

• Sasol Limited

Section IV: Financial

Banks

• Nedbank Limited

Section V: Financial

Life Assurance and Insurance

• Discovery Holdings Limited

Section VI: Financial

General (incl. Investment Companies, Speciality & Other Finance & Real Estate)

• African Bank Investments Limited

Section VII:

Basic Industry and Manufacturing – Construction & Building Materials, Engineering and Machinery, Diversified Industrials, Automobiles & Parts

• Group Five Limited

Section VIII: Consumer Products

Beverages, Food Producers, Pharmaceuticals, Household Goods, General Retailers, Food and Drug Retailers

• Tongaat Hulett Limited

Section IX: Service Sectors

Support Services, Leisure & Hotels, Media,Entertainment and Transport services)

• Hudaco Industries Limited

Section X : General Industrial

Electronic and Electrical Equipment, Engineering & Machinery, Information Technology and Telecommunications

• Allied Technologies Limited

Section XI: Company with

market capitalisation below R2000 million

• Dawn Limited

Best Report of the Executives

• Investec Limited

Best Company Presentation to the Society during 2008

(companies with market cap above R20-billion)

• Arcelor Mittal South Africa Limited

Best Company Presentation to the Society during 2008 (companies with market cap between R5 – R20 billion

• Liberty Holdings Limited

Best Company Presentation to the Society during 2008

(companies with market cap below R5 billion)

• Adcorp Limited

SAMREC /IAS Award

• Harmony Gold Mining Company Limited

IAS Journal Award

Evaluating And Constructing Equity Benchmarks In The South African Portfolio Management Context

• Prof Paul van Rensburg & Ryan Kruger

Ias Chairman’s Merit Award

for services to the industry and investment community

• JSE Limited

• C Mlambo and N Biekpe -The efficient market hypothesis: Evidence from ten African stock markets
• G Bailey and E Gilbert – The impact of liquidity on mean reversion of share returns
• NK Smithson and C Firer – Performance of newly listed mining stocks on the London AIM and Toronto TSX-V Stock Exchanges
• A Abdo and G Fisher – The impact of reported corporate governance disclosure on the financial performance of companies listed on the JSE
• R Mangani – Distributional properties of JSE prices and returns
• DC Wentzel and E Maré – Extreme value theory – an application to the South African equity market

• CJB Smit and MJD Ward – The impact of large acquisitions on the share price and operating financial performance of acquiring companies listed on the JSE
• R Mutooni and C Muller – Equity style timing
• N Bhana – The market reaction to open market share repurchases announcements: The South African experience
• A Bakhouche – Determinants of the prices of South African paintings: a hedonic analysis
• IM Pagel, PJ de Jongh and JH Venter – An introduction to realized volatility