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.