In an unprecedented year, domestic and international investors in Chinese equities stuck with a precedented sales team.
China International Capital Corp. was once again voted the No. 1 firm in Institutional Investor’s ninth annual All-China Sales Team. The incumbent has topped the ranking — which ranks overall sales coverage as well as specific coverage of the mainland China, Hong Kong, and Taiwan markets — every year since the survey’s inception in 2012.
Down the leaderboard, however, there was a lot of movement. This year a pair of international providers rounded out the top three, with Citi making a leap from last year’s sixth place finish to take second. UBS, meanwhile, repeated its third-place performance. Domestic provider Huatai Securities dropped two spots to fourth place, while Orient Securities improved from eighth to fifth.
More than 650 buy-side analysts and money managers at some 380 firms judged providers on a range of attributes that included adding value to research, idea generation, service and responsiveness, and understanding client needs. These were important traits before 2020 but became paramount in a year that has been dominated by the Covid-19 pandemic and its associated volatility, with the MSCI China index swinging 57 percent from trough to peak...