For six years in a row, emerging market investors in Europe, the Middle East, and Africa have ranked Bank of America Merrill Lynch as their preferred source of research. This year — in an updated version of the Emerging EMEA Research Team — BofA Merrill Lynch makes its seventh straight appearance at the top of the roster.
More than 2,100 portfolio managers and buy-side analysts from almost 1,000 asset management firms voted to determine the ninth annual Emerging EMEA Research Team. Voters — who ranked research providers as part of the 2019 Extel survey — separately rated firms and analysts across 18 sectors to create two leaderboards, one recognizing the top firms overall in each sector, and another recognizing the firms with the best analysts in each sector.
BofA Merrill Lynch topped both leaderboards. HSBC and UBS tied for second in the firm ranking, but HSBC came out ahead in the analyst-based ranking, where UBS placed third.
The ninth annual 2019 Emerging Europe, Middle East, & Africa Research Team results were created using votes cast in the 2019 Extel survey. We invited contributions from portfolio managers and buy-side analysts at leading asset management firms around the world. We received responses from more than 2,100 individuals at almost 1,000 institutions across 18 sectors.
Participants first rated their top firms in each sector on a scale from 1-5, and then separately rated individual analysts or economists/strategists at those firms to create two distinct results for each sector. A numerical score was produced by weighting each vote based on both the respondent’s Emerging EMEA equity commissions and their average rating. Using those scores, ranks were then determined. Firms/analysts were designated runners‐up when their scores came within 35 percent of the third-place scores.
For the analyst-based rankings, analysts or economist/strategists who switched firms after midnight on March 11, 2019 are cited at their previous organizations.
The individuals surveyed are kept confidential to ensure continuing cooperation. Voters must meet eligibility requirements, and winners must achieve a minimum vote count.