To select the members of the eighth annual All‐Europe Fixed‐Income Research Team, Institutional Investor sent questionnaires to bond and credit specialists at leading money management firms around the world. We received responses from more than 680 investment professionals at 381 buy‐side institutions that collectively manage an estimated $6.2 trillion in European fixed‐income assets.

Respondents vote for individual analysts; these votes are combined for firms in each sector. A numerical score is produced for each firm by weighting each vote based on the respondent’s European fixed‐income assets under management and on the place awarded (first, second, third or fourth) to the firm or individual. A team is designated runner‐up when its score falls within 35 percent of the third‐teamer’s score. This year, in addition to the team-based ranking, we produced a ranking based on each individual’s score in each sector.

The analyst recognized as the leader of each winning group is either the individual designated as team leader by the firm or the analyst recognized most frequently by investors. In the High‐Yield and Investment‐Grade research categories, only those analysts who publish independent research as defined by the U.K.’s Financial Conduct Authority are eligible to be recognized as team leaders. No such restriction applies to team leaders in Economics & Strategy.

This year, in addition to the team-based ranking, we produced a ranking based on each individual’s score in each sector. For both rankings, analysts who switched firms after October 13, 2017, are cited at their previous organizations.

The All‐Europe Fixed‐Income Research Team survey produced complete publishable results (first through third place) in 16 of the 22 polled sectors for the team ranking and in 17 sectors for the individual ranking.

The names of those surveyed and the institutions they work for are kept confidential to ensure their continuing cooperation. Voters must meet eligibility requirements, and winners must achieve a minimum vote count. All ballots are subject to review by our Research Operations Group, and final results may be inspected by an independent auditor.

The 2018 All‐Europe Fixed‐Income Research Team ranking was compiled by Associate Research Editor Denise Hoguet, along with Senior Research Editor Tucker Ewing, and Researchers Denise Best, Xiao Liu and Amy Tan under the guidance of Will Rowlands-Rees, Director of Research.