Blacks own 17% of JSE

2011-10-04 13:12

Blacks directly own 8% of the top 100 companies listed on the JSE, chief executive Russell Loubser said today.

Another 9% was owned by blacks through mandated investments such as pension funds and unit trusts, Loubser told reporters in Johannesburg.

Research by Trevor Chandler and Associates found that 17% of the value of the JSE was held by blacks.

However, only 50% of mandated investments had been analysed so far.

Last year’s research which looked at only directly held investments, also found a black shareholding of 8%.

Loubser said he was surprised the percentage was the same as companies had gone under and schemes had collapsed in the tough economic climate.

“I’m delighted to see that the number is still 8%.”

The value of the black shareholding of the bourse was around a trillion rand, he said.

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