OverviewThe 2018 All-Europe Research Team - Hedge Fund Cut, Institutional Investor's annual ranking of the top European equity research analysts as chosen by hedge fund managers, saw a new firm emerge as the top-ranked research provider.
UBS jumped four places to the No. 1 spot in the 2018 ranking, with the Swiss bank more than doubling its total number of team positions from last year. UBS analysts ranked across 30 of the 33 investment sectors included in the survey. Twelve UBS analyst teams placed first in their sector, up from four in 2017, as the bank was rewarded for its coverage of technology, media and telecommunications companies.
The next best firm, second-place Morgan Stanley, earned 22 total team positions. Meanwhile, last year's leader, Bank of America Merrill Lynch, plummeted three spots in the 2018 ranking, as it lost six team positions. Deutsche Bank also ranked lower, dropping one place to fifth.
To determine hedge funds' favorite European sell-side analysts, Institutional Investor's Alpha retabulated the results of the 2018 All-Europe Research Team to count only those votes cast by hedge fund personnel. The resulting 2018 Hedge Fund Cut was based on responses from 529 hedge fund managers overseeing an estimated $271 billion in European equities.