Formerly known as Extel’s U.K. Small & Mid-cap Survey, the small- and mid-cap results are the first Extel rankings to be published under the Institutional Investor brand this year, following II’s acquisition of Extel in 2018. Instead of ranking the best overall brokers, as in previous Extel surveys, this new version highlights the top firms across three categories: research, sales, corporate access.
The ranking of U.K. Small & Mid-cap Corporate Access Providers was topped by Peel Hunt, with Investec coming in second and Numis taking third.
The survey, which included 293 portfolio managers and analysts across 203 firms, took place during the early weeks of the pandemic, with polling closing on April 17. This makes it one of the first to capture investor sentiment toward their corporate access providers during the height of 2020’s uncertainty.
“Corporate access has absolutely gone online,” said Andrew Peck, head of Investec’s listed client group. Despite this shift, Investec has seen “an enormous amount of contact between fund managers and analysts and companies.”
“More contact between the buy side and the sell side than I’ve ever known,” Peck added.