8 May 2007

1. Background

The award now in its 8th year

• Previous winners are:
• Stephen Cranston, Financial Mail
• Bruce Cameron, Personal Finance
• Stafford Thomas, Financial Mail
• Marc Hasenfuss, Finance Week
• Alec Hogg, Moneyweb
• Bruce Cameron, Personal Finance
• Charlene Clayton Personal Finance
• Citadel received fewer entries than previous years, BUT many of the entrants for the 2007 award are previous winners of the main or runner-up awards. This made it especially tough for the judges, which reflected in very high scores with decimal points separating the winners. New entrants also achieved competitive scores, which is a confirmation that investment and personal finance reporting is encouraged by editors and most certainly welcomed by the consumers of the reports.
• Increase in prize money in 2008.

2. The judges

The judges for the 2007award were:

• John Arneson, CEO of the Financial Planning Institute (FPI)
• Prem Govender, Vice President of the Board of the FPI and CEO of CP Naidoo and Partners. Unable to attend today due to work pressure. She is represented by Mersey Booysen, General Manager: Membership of the Financial Planning Institute.
• Robert Brand of the Pearson Chair of Economics Journalism at Rhodes University. Unable to attend today, he is attending a conference in Uganda.

3. The winners

Last year the award was dominated by features about the Pension Funds Adjudicator. Entries received for the 2007 award covered a much greater variety of topics, which again proved that the news about investments and personal finance issues continues to grow. Investment in property remained a popular topic, as did the continued strong market performance of 2006 and interestingly, a whole lot of entries elaborated on the dangers of debt.

Winners electronic category:

Runners-up:
For interviews that provided detailed information about a whole range of investment issues the runner-up prize in the category for electronic media: television is awarded to Bruce Whitfield of Summit TV. Unable to attend, producer Jane van Reenen will accept for The Summit Investor.

For a series of features detailing the pitfalls of certain investments, such as property speculation with stands in recently proclaimed residential developments or investing in debentures offered by non-trustworthy companies, as well as well- researched columns offering much food for thought, the winner of the runner-up award in the electronic category for features published on the Internet, is Vic de Klerk of FIN24.com.

Interviews with experts on property investments and a series of radio shows about the Money Skills loan scheme, secured the runner-up prize in the category radio for Alec Hogg of Moneyweb. Unable to attend today, Barbara Mazaris of Moneyweb will accept in his behalf.

Electronic category winner:
Staying abreast of changes in tax laws is not an easy task. Ensuring that their tax affairs are in order is often problematic for many South Africans. For sometimes witty writing, yet always detailed analysis, advice, guidance and reporting about tax issues and dealings with the SA Revenue Service in a series of features, the winner of the electronic category is Steven Jones for articles published on Moneyweb.co.za.

Winners print category:

Runners-up:
Reading this column is similar to discussing investment issues at a dinner party. The points of departure, the counter-arguments, the what if this and what if that comebacks are all included in a daily dose of discussions centering on investments in equities, properties, bonds vs cash, and more. For columns with the expected facts and figures, yet written in an easy to read style, the runner-up award in the print category for a daily column is awarded to: Erika van der Merwe for Moneyweb Business in The Citizen.

Reporting on investment news requires a certain understanding of the numerous issues and technical information, yet a keen sense for what is newsworthy. Analyzing and commenting is another matter entirely. For quality opinion pieces on issues as diverse as the annual Berkshire Hathaway AGM - referred to as the "Woodstock for capitalists" and the Cadiz / African Harvest transaction; for expert opinion and an understanding of the financial services industry and investment universe few can match, the winner of the runner-up award in the print category for a weekly column is Stephen Cranston of Financial Mail.

As was the case last year, we received many entries in the category for consumer magazines. This growth is likely to continue as a wider range of non-financial publications include features about consumers' money matters. In this category the writing and topic selection is very different to that of the business magazines, but offers easy to understand information that will certainly promote better decision making about money. For well written articles with exhaustive details about medical aids, budgeting, financial planning when getting divorced, and buying a house vs renting the runner-up prize in the category print: consumer magazines is awarded to Suzette Truter of Sarie.

Investing in unit trusts remains the preferred investment option for many South African consumers. Reporting on that industry with fresh angles in a manner that makes equal sense to people not involved in the financial services and those who know every detail, takes some doing. For detailed features on unit trust investments, the fund managers managing the funds and small vs large asset managers the runner-up prize for features in a business publication is awarded to Laura du Preez of Personal Finance Magazine.

One of the biggest stories of 2006 was the unraveling of the details of shareholdings and interesting deal making by the late Brett Kebble and how this affected shareholders in the companies affected. For his meticulous research and detailed reporting over many weeks about this news item that fascinated many, the runner-up award in the category print: feature in a daily newspaper goes to Barry Sergeant of Moneyweb Business in The Citizen.

For a series of features with comprehensive information about a financial issue affecting vast numbers of South Africans - medical aids - the runner-up in the category print: feature in a weekly publication is David van Rooyen of Sake-Rapport.

Print category winner:
The winner of the print category for 2007 entered exceptional features that grabbed headlines in other media once his research was published. For detailed features on issues that elicit strong emotions amongst consumers and investors - bank charges; credit cards and overspending; and an investigative series into the banking industry the winner of the print category is Bruce Whitfield for articles published in FINweek. Unable to attend today, Colleen Naudé of FINWeek will accept on his behalf.

Main awards:

Hedge fund award:
As the hedge fund industry develops in South Africa, so does the reporting on this asset class. For excellent hedge fund features written for Moneyweb's Personal Finance newsletter the winner of the Peregrine award for excellent reporting about hedge funds is Julius Cobbett of Moneyweb.

Chairman's award:
Most of the people in this room today are widely considered as leaders in their respective fields of business and investment reporting. The winner of the category for investigative reporting most certainly is one of them. For cover stories that covered all angles, commented authoritatively and included newsworthy information about the life industry, the departure of the previous head of the office of the Pensions Fund Adjudicator, the unit trust industry and more, the winner of the Chairman's award is Stephen Cranston of Financial Mail.

Overall winner:
In an investment world that offers a bewildering array of choices, even experienced investors find it difficult to make the right decisions. There are many obstacles in the road to financial independence, many factors to consider, much information to digest. Tackling the myriad of issues, choices and pitfalls, discussing the industry trends and exposing the dangers that offer the initiated with sound information, the industry with hard news and beginners with useful guidance in different media with different styles, the overall winner of the 2007 Citadel Words on Money journalism award is Bruce Cameron of Personal Finance.