South Africa
Collateral damage: Who owns Steinhoff?
Government employees are the second largest shareholder. By Warren Thompson for MONEYWEB.
There will hardly be an institutional shareholder in the country that escapes the carnage unleashed on the Steinhoff share price over the last few days.
Moneyweb has sourced the shareholder register of the company as at 24 November when the share price was at R55.89. We calculated the damage using a share price of R16.70 – where it was trading at 1.30pm on Wednesday 6 December.
It makes for grim reading.
The Government Employees Pension Fund (GEPF), directly, through its holdings managed by the Public Investment Corporation, and indirectly, through parts of its investments farmed out to private asset managers, will be the largest loser behind Christo Wiese. They will be in good company though. Behind them sits every large asset manager in the country, including Allan Gray, Coronation, Investec, Foord, Discovery and Old Mutual. Large pension funds including those of Eskom and Sasol have also been hit.
The implications are clear: virtually every South African with investments in the form of retirement savings via retirement annuities or provident and pension funds, will all be poorer because of what has happened to Steinhoff.
We have highlighted South African institutional investors using italics in the table below. DM
|
No |
Shareholders as at 24 November 2017 |
Number of shares held |
% of total shares |
Value based on share price of R55.89 (R’m) |
Value based on share price of R16.70 on 6 Dec 13.30 (R’m) |
Change (R’m) |
|
1 |
CLEARSTREAM BANKING S.A LUXEMBOURG |
1,153,178,766 |
26.8% |
R64,451 |
19,258.09 |
-R45,193 |
|
2 |
GOVERNMENT EMPLOYEES PENSION FUND PUBLIC INVESTMENT CORPORATION |
320,729,253 |
7.4% |
R17,926 |
5,356.18 |
-R12,569 |
|
3 |
CITICLIENT NOMINEES NO 8 HK GW |
122,934,974 |
2.9% |
R6,871 |
2,053.01 |
-R4,818 |
|
4 |
JPMC-OPPENHEIMER LENDING ACCOUNT |
115,822,130 |
2.7% |
R6,473 |
1,934.23 |
-R4,539 |
|
5 |
UBS SWITZERLAND AG- UBS WM UK CLIENT HOLDINGS |
100,881,227 |
2.3% |
R5,638 |
1,684.72 |
-R3,954 |
|
6 |
UPINGTON INVESTMENT HOLDINGS B.V. |
71,150,542 |
1.7% |
R3,977 |
1,188.21 |
-R2,788 |
|
7 |
STATE STREET BANK AND TRUST CO-OMN IBUS ACCOUNT-WEST CLIENT |
58,108,723 |
1.3% |
R3,248 |
970.42 |
-R2,277 |
|
8 |
LANCASTER 101 PTY LTD CITI |
51,526,717 |
1.2% |
R2,880 |
860.50 |
-R2,019 |
|
9 |
VANGUARD EMERGING MARKETS STOCK INDEX FUND |
44,533,078 |
1.0% |
R2,489 |
743.70 |
-R1,745 |
|
10 |
FIHAG FINANZ UND HANDELS AG |
43,731,538 |
1.0% |
R2,444 |
730.32 |
-R1,714 |
|
11 |
BUS VEN INVEST NO 1499 (PTY) LTD (P |
43,229,864 |
1.0% |
R2,416 |
721.94 |
-R1,694 |
|
12 |
STEINHOFF INTERNATIONAL HOLDINGS NV |
40,377,900 |
0.9% |
R2,257 |
674.31 |
-R1,582 |
|
13 |
UPINGTON INVESTMENT HOLDINGS BV N1 |
38,265,935 |
0.9% |
R2,139 |
639.04 |
-R1,500 |
|
14 |
GOVERNMENT EMPLOYEES PENSION FUND PICIND CAM |
37,156,600 |
0.9% |
R2,077 |
620.52 |
-R1,456 |
|
15 |
SSBTC CLIENT OMNI NON LUX OM01 |
36,389,917 |
0.8% |
R2,034 |
607.71 |
-R1,426 |
|
16 |
CITICLIENT NOMINEES NO 8 NY GW |
35,624,988 |
0.8% |
R1,991 |
594.94 |
-R1,396 |
|
17 |
STANDARD CHARTERED BANK AS TRUSTEE FOR CORO BALANCED PLUS FUND -COBP |
35,259,510 |
0.8% |
R1,971 |
588.83 |
-R1,382 |
|
18 |
STEINHOFF AFRICA HOLDINGS PTY LTD |
33,995,232 |
0.8% |
R1,900 |
567.72 |
-R1,332 |
|
19 |
SSBTC CLIENT OMNI LENDING NON LUX OM79 |
33,567,872 |
0.8% |
R1,876 |
560.58 |
-R1,316 |
|
20 |
BBH(LUX) FIDELITY FUNDS-EMERGING MARKETS |
32,239,499 |
0.7% |
R1,802 |
538.40 |
-R1,263 |
|
21 |
UPINGTON INVESTMENT HOLDINGS BV N2 |
31,000,000 |
0.7% |
R1,733 |
517.70 |
-R1,215 |
|
22 |
UPINGTON INVESTMENT HOLDING BV(NO1) |
29,481,543 |
0.7% |
R1,648 |
492.34 |
-R1,155 |
|
23 |
LIBERTY LIFE ASS.OF AFRICA LTD |
29,079,464 |
0.7% |
R1,625 |
485.63 |
-R1,140 |
|
24 |
STATE STREET BANK AND TRUST CO-OMN IBUS ACCOUNT-A |
28,633,382 |
0.7% |
R1,600 |
478.18 |
-R1,122 |
|
25 |
OLD MUTUAL LIFE ASSURANCE CO SA |
28,369,400 |
0.7% |
R1,586 |
473.77 |
-R1,112 |
|
26 |
JPMC-VANGUARD BBH LENDING ACCOUNT |
27,563,525 |
0.6% |
R1,541 |
460.31 |
-R1,080 |
|
27 |
UPINGTON INVESTMENT HOLDINGS B.V.-P |
27,127,398 |
0.6% |
R1,516 |
453.03 |
-R1,063 |
|
28 |
AJVH HOLDINGS PTY LTD |
23,125,021 |
0.5% |
R1,292 |
386.19 |
-R906 |
|
29 |
OLD MUTUAL LIFE ASSURANCE CO SA LTD |
22,166,282 |
0.5% |
R1,239 |
370.18 |
-R869 |
|
30 |
FOORD BALANCED FUND |
21,975,098 |
0.5% |
R1,228 |
366.98 |
-R861 |
|
31 |
STANDARD CHARTERED BANK AS TRUSTEE FOR CORO TOP 20 FUND -COTTF |
20,801,760 |
0.5% |
R1,163 |
347.39 |
-R815 |
|
32 |
UPINGTON INVESTMENT HOLDING BV(NO2) |
20,700,000 |
0.5% |
R1,157 |
345.69 |
-R811 |
|
33 |
GOVERNMENT EMPLOYEES PENSION FUND SANLAM INVESTMENT MANAGERS PTY LTDI |
18,379,999 |
0.4% |
R1,027 |
306.95 |
-R720 |
|
34 |
K2016159084 (SOUTH AFRICA) PTY LTD |
17,939,979 |
0.4% |
R1,003 |
299.60 |
-R703 |
|
35 |
JPMCB NA RE DEPO JPMEL RE UCITS CLIENTS ASSETS |
17,608,936 |
0.4% |
R984 |
294.07 |
-R690 |
|
36 |
CITICLIENT NOMINEES NO 8 LDN GW |
17,225,212 |
0.4% |
R963 |
287.66 |
-R675 |
|
37 |
HSBC BANK PLC SAUDI ARABIA MONETARYAGENCY |
17,025,979 |
0.4% |
R952 |
284.33 |
-R667 |
|
38 |
BNYMSANV AS AGENT/CLIENTS BT G NON TREATY ACC 1 |
16,532,202 |
0.4% |
R924 |
276.09 |
-R648 |
|
39 |
UPINGTON MAYFAIR ABSA PLEDGE |
14,490,000 |
0.3% |
R810 |
241.98 |
-R568 |
|
40 |
UPINGTON MAYFAIR |
14,021,454 |
0.3% |
R784 |
234.16 |
-R550 |
|
41 |
FOORD EQUITY FUND |
12,855,351 |
0.3% |
R718 |
214.68 |
-R504 |
|
42 |
SBSA ITF NEDG INV OPP FUND |
12,700,000 |
0.3% |
R710 |
212.09 |
-R498 |
|
43 |
ALEXANDER FORBES INVESTMENTS LTD FOORD FDL AM |
12,543,606 |
0.3% |
R701 |
209.48 |
-R492 |
|
44 |
PIC UIF |
12,411,352 |
0.3% |
R694 |
207.27 |
-R486 |
|
45 |
INVESTEC OPPORTUNITY FUND |
12,338,017 |
0.3% |
R690 |
206.04 |
-R484 |
|
46 |
SIMLEND MAIN ACCOUNT |
12,298,869 |
0.3% |
R687 |
205.39 |
-R482 |
|
47 |
BNYM AS AGT/CLTS BTG NON TREATY 10 PERCENT |
12,294,415 |
0.3% |
R687 |
205.32 |
-R482 |
|
48 |
SANLAM LIFE INSURANCE LIMITED |
12,068,272 |
0.3% |
R674 |
201.54 |
-R473 |
|
49 |
UPINGTON INVESTMENT HOLDINGS (PLEDG |
11,683,387 |
0.3% |
R653 |
195.11 |
-R458 |
|
50 |
GOVERNMENT EMPLOYEES PENSION FUND MAZI CAPITAL PTY LTD |
11,676,269 |
0.3% |
R653 |
194.99 |
-R458 |
|
51 |
FAST EMERGING MARKETS FUND |
11,097,185 |
0.3% |
R620 |
185.32 |
-R435 |
|
52 |
SBSA ITF OMUT INV FND |
10,640,553 |
0.2% |
R595 |
177.70 |
-R417 |
|
53 |
SBSA ITF NGI INV RAINMAKER FND |
10,600,000 |
0.2% |
R592 |
177.02 |
-R415 |
|
54 |
SBSA ITF SIS EQ FND – COR |
10,351,198 |
0.2% |
R579 |
172.87 |
-R406 |
|
55 |
NORTHERN TRST CO LDN |
10,233,369 |
0.2% |
R572 |
170.90 |
-R401 |
|
56 |
BNYMSANV AS AGENT/CLIENTS BT G TREATY ACC 5 PERCENT WHT 1 |
9,778,779 |
0.2% |
R547 |
163.31 |
-R383 |
|
57 |
JPMORGAN CHASE BANK NA RE JPMBI AS TRUSTEE FOR CORONATION |
9,659,813 |
0.2% |
R540 |
161.32 |
-R379 |
|
58 |
JPM SA RE UCITS CLIENTS ASSETS |
9,365,289 |
0.2% |
R523 |
156.40 |
-R367 |
|
59 |
FIDELITY FDS EMG EUROPE MIDDLE EASTAND AFRICA |
9,078,538 |
0.2% |
R507 |
151.61 |
-R356 |
|
60 |
GOVERNMENT EMPLOYEES PENSION FUND ARGON ASSET MANAGEMENT PTY LTD |
8,879,029 |
0.2% |
R496 |
148.28 |
-R348 |
|
61 |
NIANTE TRUST |
8,852,085 |
0.2% |
R495 |
147.83 |
-R347 |
|
62 |
NOVARE CREST WORLDWIDE FLEXIBLE QUALIFIED INVESTOR HEDGE FUND |
8,826,227 |
0.2% |
R493 |
147.40 |
-R346 |
|
63 |
BN1 – .UPINGTON INVESTMENT HOLDINGS |
8,707,283 |
0.2% |
R487 |
145.41 |
-R341 |
|
64 |
ABU DHABI INVESTMENT AUTHORITY |
8,641,479 |
0.2% |
R483 |
144.31 |
-R339 |
|
65 |
JPMBI RE UCITS CLIENTS ASSETS |
8,574,324 |
0.2% |
R479 |
143.19 |
-R336 |
|
66 |
STEINHOFF INT. SHARE TRUST |
8,066,179 |
0.2% |
R451 |
134.71 |
-R316 |
|
67 |
ABAX EQUITY PRESCIENT FUND ABAXEQT |
7,942,000 |
0.2% |
R444 |
132.63 |
-R311 |
|
68 |
STATE STREET BANK AND TRUST UK LONDON BRCH GEN OMN1 |
7,730,244 |
0.2% |
R432 |
129.10 |
-R303 |
|
69 |
ALLAN GRAY BALANCED FUND |
7,420,664 |
0.2% |
R415 |
123.93 |
-R291 |
|
70 |
OFIGTC EMG MKTS EQUITY FND |
6,807,859 |
0.2% |
R380 |
113.69 |
-R267 |
|
71 |
ALEXANDER FORBES INVESTMENTS LTD INVESTEC FDL AM |
6,720,304 |
0.2% |
R376 |
112.23 |
-R263 |
|
72 |
PIC – COMP COMM |
6,644,433 |
0.2% |
R371 |
110.96 |
-R260 |
|
73 |
BN1 – .UPINGTON INVESTMENT HOLDINGS |
6,433,273 |
0.1% |
R360 |
107.44 |
-R252 |
|
74 |
SBSA ITF SIM GEN EQ FND |
6,432,039 |
0.1% |
R359 |
107.42 |
-R252 |
|
75 |
UPINGTON INVESTMENT HOLDINGS B.V – |
6,376,641 |
0.1% |
R356 |
106.49 |
-R250 |
|
76 |
STANDARD CHARTERED BANK AS TRUSTEE FOR DISC BALANCED FUND- |
6,175,298 |
0.1% |
R345 |
103.13 |
-R242 |
|
77 |
VANGUARD INV SRS PLC/VANGUARD EMARGMARKT STCK IND |
6,055,563 |
0.1% |
R338 |
101.13 |
-R237 |
|
78 |
ALEXANDER FORBES INVESTMENTS LTD FOORD EQUITY AM |
5,914,025 |
0.1% |
R331 |
98.76 |
-R232 |
|
79 |
BN1 – .UPINGTON INVESTMENT HOLDINGS |
5,813,014 |
0.1% |
R325 |
97.08 |
-R228 |
|
80 |
MMI GROUP LIMITED |
5,773,196 |
0.1% |
R323 |
96.41 |
-R226 |
|
81 |
JPMBLSA NORDEA UCITS LEN |
5,735,183 |
0.1% |
R321 |
95.78 |
-R225 |
|
82 |
INV ASS LTD BALANCED FUND |
5,630,041 |
0.1% |
R315 |
94.02 |
-R221 |
|
83 |
BN1 – .UPINGTON INVESTMENT HOLDINGS |
5,609,049 |
0.1% |
R313 |
93.67 |
-R220 |
|
84 |
SYFRETS SECURITIES LTD |
5,503,493 |
0.1% |
R308 |
91.91 |
-R216 |
|
85 |
INVESTEC EQUITY FUND |
5,405,139 |
0.1% |
R302 |
90.27 |
-R212 |
|
86 |
ESKOM PENSION FUND ESKPEN |
5,390,784 |
0.1% |
R301 |
90.03 |
-R211 |
|
87 |
THE TOKARA BEE TRUST |
5,214,554 |
0.1% |
R291 |
87.08 |
-R204 |
|
88 |
SSBTC CLIENT OMNIBUS ACCOUNT OU2A |
5,118,414 |
0.1% |
R286 |
85.48 |
-R201 |
|
89 |
BN1 – .UPINGTON INVESTMENT HOLDINGS |
5,102,866 |
0.1% |
R285 |
85.22 |
-R200 |
|
90 |
SANLAM PRIVATE WEALTH PTY LIMITED |
5,044,790 |
0.1% |
R282 |
84.25 |
-R198 |
|
91 |
BN1 – .UPINGTON INVESTMENT HOLDINGS |
5,000,000 |
0.1% |
R279 |
83.50 |
-R196 |
|
92 |
STANDARD CHARTERED BANK AS TRUSTEE FOR CORO EQUITY FUND -COHGF |
4,985,689 |
0.1% |
R279 |
83.26 |
-R195 |
|
93 |
DU TOIT JACOBUS HAUPTFLEISCH |
4,984,720 |
0.1% |
R279 |
83.24 |
-R195 |
|
94 |
SASOL PENSION FUND |
4,972,347 |
0.1% |
R278 |
83.04 |
-R195 |
|
95 |
THE TOKARA EMPLOYEES TRUST |
4,946,840 |
0.1% |
R276 |
82.61 |
-R194 |
|
96 |
SBSA ITF SIM BAL FND |
4,941,261 |
0.1% |
R276 |
82.52 |
-R194 |
|
97 |
SBSA ITF PRUD CORE VAL FND |
4,908,995 |
0.1% |
R274 |
81.98 |
-R192 |
|
98 |
HSBC PLC A/C IB EQUITY FINANCE |
4,761,865 |
0.1% |
R266 |
79.52 |
-R187 |
|
99 |
ALEXANDER FORBES INVESTMENTS LTD PRUDENTIAL FDL AM |
4,727,471 |
0.1% |
R264 |
78.95 |
-R185 |
|
100 |
JPMCB NA RE DEPO JPMEL AB RE AIF C LIENT ASSETS APG |
4,658,971 |
0.1% |
R260 |
77.80 |
-R183 |
Warren Thompson is Mineweb’s editor. He has extensive experience in financial media and has also performed investment research for a variety of institutional investors. He holds a graduate degree in finance from the University of the Witwatersrand.
Photo: Traders work on the floor of the New York Stock Exchange (NYSE) at the start of the trading day in New York, New York, USA, 07 January 2016. Photo: EPA/ANDREW GOMBERT
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