For the sixth year in a row, hedge fund managers have chosen Morgan Stanley as the best provider of Asia-focused investment research.

The bank placed first in the 2018 All-Asia Research Team: Hedge Fund Cut, with its analysts ranking at least third in every single sector covered by the survey. Twenty-one Morgan Stanley analyst teams ranked first in their division, down slightly from 25 last year.

The All-Asia Research Team drew on responses from some 4,700 investment professionals at 1,380 institutions managing an estimated $1.9 trillion in Asian equities, excluding Japan. Only votes cast by hedge fund employees counted for the Hedge Fund Cut.