The BLSA Tracker was commissioned by BLSA and developed by Krutham.  

The contents are issued for information purposes only and individuals should undertake their own analysis and/or seek professional advice based on their specific needs before making decisions based on the contents.  

The information is based on sources that Krutham believes to be reliable, but Krutham and BLSA make no representations or warranties regarding the completeness, accuracy or reliability of any information, facts, estimates, forecasts or opinions contained.  

Krutham, its directors, officers, staff, agents or associates shall have no liability for any loss or damage of any nature arising from the use of this document.  

Disclosure  

The opinions or recommendations contained in the Tracker represent the true views of the analyst(s) responsible for generating the content. The analysts’ remuneration is not affected by the opinions or recommendations contained in this report, although his/her remuneration may be affected by the overall quality of their research, feedback from clients and the financial performance of Krutham group entities.  

Krutham may have, or be seeking to have, a consulting or other professional relationship with the companies, sovereigns or individuals mentioned in this report. A copy of Krutham’s conflicts of interest policy is available on request by emailing mail@krutham.com. Relevant specific conflicts of interest will be listed here if they exist.  

• Krutham is providing independent advice and independent research to a wide range of investors and financial institutions on Eskom, Denel, Transnet, Land Bank and SAA. Krutham’s interactions with all clients on Eskom, Denel, Transnet, Land Bank and SAA may include business confidential information but does not include MNPI and so does not provide a conflict. Krutham does not ‘act’ or ‘advocate’ for or ‘represent’ any of these clients. Krutham has regular interactions with government, Eskom, Denel, Transnet, Land Bank, SAA and other related entities connected with the SOE situation but does not provide paid consulting services or paid advice to any of these entities. These interactions are governed by Krutham’s own conflicts of interest policy as well as secrecy rules of the respective institutions or state-owned companies.  

• Krutham provides a range of services into ‘organised business’ groupings in South Africa, which includes independent bespoke research and advice. Krutham is compensated for these services. Krutham does not ‘act for’ or ‘advocate’ for or ‘represent’ any of these clients.  

• Krutham is currently involved in policy design work on a number of government priorities.  

 

Copyright  

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