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IMFO (Western Cape) Conference Corporate Information and Services June 2012 Asim Gani Managing Director

IMFO (Western Cape) Conference Corporate Information and Services June 2012 Asim Gani Managing Director. Background. Established in 2002. A Keymix Investment Subsidiary. 98% Black owned. Strong BEE Credentials (all levels, incl Level 1 – 7 years).

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IMFO (Western Cape) Conference Corporate Information and Services June 2012 Asim Gani Managing Director

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  1. IMFO (Western Cape) Conference Corporate Information and Services June 2012 Asim Gani Managing Director

  2. Background • Established in 2002 • A Keymix Investment Subsidiary • 98% Black owned • Strong BEE Credentials (all levels, incl Level 1 – 7 years) • Actuarial and Investment Consulting Services • Cape Town and Gauteng offices

  3. Actuarial Services: Valuation of liabilities for financial statements (IAS19/GRAP16/25) Post-retirement medical, Redundancy pensions, Long service awards Retirement fund, and advices Valuation of COID Liabilities (Injury on duty schemes) and advices Examples Peer Reviews/Investigations Investment Advisory Services: Developing of MFMA (and National Treasury Regulated) compliant Investment Policies, including: Investment objectives/benchmarks Investment Strategy Investment manager selection and optimisation Performance monitoring Investment Training and communication With focus on Governance Municipality Services

  4. Financial Calculations and Projections (new area) Assistance in calculation methodologies e.g. calculation of tariffs (for electricity, water) Financial projections, sensitivities and impact analyses based on different tariff models (water, electricity) Quantification of financial impact of executive remuneration strategies (short term / long-term incentives) Municipality Services

  5. Fund Administration and Accounting Auditing Rule Writing Your Retirement Fund Consulting Risk Management Actuarial Asset Management Investment Consulting Retirement fund services: Where do we fit in?

  6. Institutional Clients10 years, 80+ clients…

  7. Institutional Clients, 10 years, 80+ clients…

  8. Trusted (Tried and Tested –10 years) Independent (ownership) Experienced (track record) Expertise (qualifications) Professional client service(executives only) Capacity (Team 30+) Local - Western Cape based Firm Excellent BEE Credentials (AAA+, Level 1, 7 years) Why IAC?

  9. Questions ?

  10. BEE Certificate -2012 renewal

  11. Executive Committee Members Kevin Lewis Finance and Operations National Diploma – Internal Auditing 17 Years Industry Experience Asim Gani Managing Director BBusSc, FIA FASSA 17 Years Industry Experience Victor Faria Executive Director Investment Advisory BBusSc (Actuarial) 17 Years Industry Experience Abigail Jacobs Compliance Paralegal Diploma, Bookkeeping Certificate 5 Years Industry Experience Krishen Sukdev Executive Director Actuarial BBusSc , FIA FASSA 15 Years Industry Experience Buyiswa Nodada Exco Observer Member B Comm (Economics and Statistics) 5 Years Industry Experience

  12. Non-Executive Directors(and Non-Exco members) Khanyisile Kweyama Independent Non-Executive Chairperson PDM, Masters in Mngmnt 20 Years Industry Experience Professor Caspar Greeff (Actuary) Executive Director (Non-Exco) BSc(Hons), FIAC FFA FASSA 58 Years Industry Experience

  13. IAC Team

  14. Back Office Support / Systems Support: We have internal accounts, compliance and other support functions. As well as external service providers as required (Audit, IT, Compliance…) Systems: Internally developed systems (VB, Excel, Access) Value at Risk, Efficient Frontier Modelling Manager Selection and Combination Projection modelling based in Mo.net (UK Actuarial System) [ALM] Internal and External Manager Research Databases We have over 40 computers, with regular backup processes including video conferencing facilities. Data feeds, including INET, Timbukone and Micropal.

  15. Strong investment governance process based on sound liability analyses (including our corrective actions process – timeous relevant) Excellent risk adjusted returns (in particular low risk enhancements and lifestaging) Cost effective implementation of investment decisions Investment Training and Knowledge transfer included. Importance of independence Opportunity to focus on SRI and desired BEE (without any compromise on the returns) Value Add

  16. Value Add • Strong investment governance process based on sound liability analyses (including our corrective actions process – timeous relevant) • Excellent risk adjusted returns (in particular low risk enhancements and lifestaging) • Cost effective implementation of investment decisions • Investment Training and Knowledge transfer included. • Importance of independence • Opportunity to focus on SRI and desired BEE (without any compromise on the returns)

  17. FAIS Disclosure • Authorised to provide financial and intermediary services: • CATEGORY 1 • - Long-Term Insurance ( Cat . A, B1, B2 & C); Short-Term Insurance • (Personal Lines, Commercial Lines); Retail Pension Benefits; Pension • Fund Benefits (excl. Retail); Securities and Instruments: Shares, Money • Market, Debentures, Warrants, Bonds and Derivative Instruments; • Collective Investment Schemes; Long-Term Deposits and Short-Term • Deposits. • CATEGORY 2 - Discretionary • - Securities and Instruments: Shares, Money Market, Debentures, Warrants, • Bonds and Derivative Instruments; Collective Investment Schemes; Collective • Investment Schemes; Long-Term Deposits and Short-Term Deposits. • Neither IAC nor any of its Key Individuals or Representatives own more than 10% of the issued shares of any Life Insurer, Asset Manager or Financial Product provider. • Neither IAC nor any of its Key Individuals or Representatives are associated with any Life Insurer, Asset Manager or Financial Product provider, except for the group companies of Trialpha (Low-risk Fund of Hedge Funds) and Qmulate (Investment structuring), as per corporate organogram. • IAC has Professional Indemnity cover (never used) • IAC does not earn any commission from any product provider. • IAC charges a fee as outlined in the service level agreement between IAC and its clients. • A complaints notification procedure is available from the compliance officer. • IAC complies with Section 21 of the General Code Of Conduct (Waiver of Rights) • Independent Actuarial Consultants • PO Box 1172, Cape Town, 8000 • Tel: (O21) 422 4373 • Fax: (021) 422 4378 • info@iac.co.za • Compliance Officer (External) • Moonstone Compliance (Pty) Ltd. • (021) 883 8000 • Internal Compliance Contact • Abigail Jacobs • (021) 422 4373

  18. Our Offices Harare Address 1st Floor, Credsure House 69 Sam Nujoma, Credsure Harare, Zimbabwe CPT Address 38 Wale Street, Wale Street Chambers Wale Street, Cape Town JHB Address Unit 2, Grayston 66 2 Norwich Close, Sandown Centre Sandton

  19. Recent Development • Acquisition of Vunani Portfolio Solutions • Appointment of Executive Director Actuarial – Krishen Sukdev • Actuary with 19 years experience (Statutory Valuator, Retirement Funds) and approved liquidator • Convenor of ASSA Social Security Committee • Board member ASABA • Appointment of Pamela Wolmarans as actuarial consultant • Additional Actuaries joining IAC as consultants: • Jonny Bagg (Life Valuator) • Nicky Patchett (Life Valuator) • Appointment of Ryan Evertse as Team Leader, Reporting

  20. Client Assets under Advice (40)

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