All-America Research Providers – Hedge Fund Cut

Methodology

2022 marks the fourth year of running the All-America Hedge Fund survey’s commission-weighted results (previous years’ All-America results were weighted by companies’ assets under management). The commission-weighted approach more accurately reflects how the buy-side values and rewards the sell-side for their research advisory services.

Selection Criteria

To select the members of the All-America Research Team, Institutional Investor solicited opinions of directors of research and investment professionals at asset management firms with a commission of at least US$250k and who are recognized as using sell-side research advisory services. For the All-America survey, we received responses from 3,565 individuals at 1,475 firms. The names of individuals surveyed are kept confidential to ensure their continuing cooperation.

Participants rated their top firms in each sector and then separately rated individual analysts at those firms to create two distinct rankings for each sector. A numerical score was produced by weighting each vote based on the responding firm’s commissions or assets under management in the sector and the rating awarded. This created the Commissions and AUM-weighted rankings.

Using those scores, ranks were determined. Firms/analysts are awarded a “Runner‐Up” position if their score comes within 35 percent of the third-place score in a sector. For the analyst rankings, the cut-off date for individuals is the date of the survey opening (May 31, 2022).

Hedge Fund Cut

The All-America Research Team – Hedge Fund Cut was produced by using the same methodology as above but included only the responses from voters employed at Hedge Funds. These results reflect the responses from 1,107 individuals at 628 voting firms. These rankings were compiled by Senior Editors Tucker Ewing, Denise Hoguet and Researchers Denise Best, Xiao Lu and Amy Tan.