While the Financial Mail rankings represent the views of asset managers and other institutions in SA, the Extel rankings are based on the opinions of institutional investors in the rest of the world. You will be able to see both in the magazine next week in one package.

As South Africa’s capital markets have become increasingly traded by foreign investors, their opinions have become more important. Many South African-based brokers target a worldwide customer base.

The Extel survey assesses teams for their coverage of SA, rather than individual analysts as the FM rankings do. The Extel results are derived from an online survey conducted in March and April covering asset managers in approximately 55 countries. The FM rankings are based on a survey of 40 institutions, but the feedback is broken down into 40 different research sectors, ranging from large cap equity analysis to analysis of derivatives and risk management. The FM’s firm rankings are then based on a weighted addition of each research sector. Read more on Extel’s role here