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October 20, 2023

The great disappearing act
Perspectives

The Great Disappearing Act: Small and mid-cap stocks in sell side analysis

On the 19th October 2023, Perpetua Investment Managers Deputy Chief Investment Officer, Lonwabo Maqubela, participated and presented at the Investor Relations Society Of South Africa’s Annual Conference, hosted at the Johannesburg Stock Exchange “JSE”. One of the topics that was of interest was the decline of sell side research, impacting particularly small and mid-caps. This is best evidenced by the chart below.

20th October 2023

Tasneem Abrahams

Tasneem joined Perpetua as a Finance and Business Trainee in 2025. 

She has a Business Administration Degree major in Finance and Investments from Tsiba Business School. 

Samantha Edwards

Samantha joined Perpetua as a Client Service Intern in 2025. 

She has a Business Administration Degree major in Finance and Investments from Tsiba Business School. 

Sisipho Jokazi

Sisipho joined Perpetua as a Business Analyst in November 2025. Before joining Perpetua, she spent 6 years at M&G Investments Southern Africa in the Institutional Clients team as an Institutional Client Associate providing client service support on a range of clients. At Perpetua, she is responsible for providing support in the servicing of clients; business development support (assisting in growing client base); components of client account management such as handling investment-related queries, performance analysis, and risk reporting. 

 

She holds a BBA degree and PGDip from TSiBA Business School and Regent Business School respectively. 

Jason Clark

Jason joined Perpetua as an Investment Performance & Risk Analyst. He is responsible for evaluating, measuring, and reporting on the performance and risk of the investment portfolios.

 

He brings experience from Luxcara, a German clean-energy asset manager, and Allan Gray, where he served in various roles over a five-year period. Jason holds Bachelor’s and Honours degrees in Economics from Stellenbosch University and is currently pursuing an MSc at the University of Bath. He also holds the CIPM® designation through the CFA Institute, specialising in investment performance measurement.