The poll features the following 16 geographic sections:
|Regional (Asia ex-Australia & Japan)
China (A & B shares)
China (H-shares, Red chips, P-shares)
Hong Kong (local, non-China)
To qualify for the regional categories, firms, analysts and sales personnel need to receive votes from three or more sovereign countries/independent markets, where more than 40% of their votes come from investors based outside their home territory, to reflect that they are truly regional. For such purposes Hong Kong is not considered a sovereign country/independent market but an extension of the mainland China market. For example, for Chinese banks/brokers and their staff to be considered regional, more than 40% of their nominations for any particular category must originate from outside China and Hong Kong.
Regional Equity Sales• Best overall regional brokerages for sales services
* Asiamoney will tabulate ranks for these two categories using data from respondents: who previously have passed Asiamoney Brokers Poll auditing in 2018; nominated several banks/brokers in both 2018 and 2019 Broker Polls; are featured in client lists from various banks/brokers; whose firms have over US$2 billion in annual trading volume; whose firms have over US$501 million in AUM.
Regional Equity Research
The industries covered are those given the highest weighting in the MSCI Asia ex-Japan index as of April 2019 – please refer to the below classifications for industry definitions.• Strategist
• Best brokerage for sales trading
• Best execution
• Best overall sales service
• Best sales persons
• Best sales traders
• Best for corporate access
• Best analysts per sector
• Best research coverage for strategy, macroeconomics, small caps and each of the weighted and most frequently traded industries in that market
• Best overall research
• Best empirical/grassroots research (H-shares, Red chips, P-shares only)
Points for place
For all categories, a first place vote rewards three points; second place two points and third place one point.
“One firm – one vote”
To avoid any one institution having more influence than others of equal size, multiple responses are fractioned according to the total number received from that one institution.
Asset size weightings
Each response was then weighted according to the institution’s approximate asset size (total unleveraged Asian equity funds under management) in Asia-Pacific (ex-Australia & Japan), in Australia or in Japan (depending upon the institution’s allocation of funds). The table below details the weightings according to asset size (hedge fund firms have been weighted at six times their assets to reflect their higher turnover rate):
For the Asia (ex-Australia & Japan) rankings a domestic market weighting system is used to compare brokerages as a whole in the region. The rationale is that the importance of markets varies across the region, so the points a brokerage receives in major markets should be weighted more than the points it receives in smaller markets. The MSCI AC Asia ex-Japan (as of April 2019) was used to achieve this. A similar sector weighting system is used to address the importance of the sectors within the region. Please refer to the following tables for a mathematical breakdown:
NOTE: The scores for Australia, China (A&B share) and Japan Overall Combined Research & Sales are calculated by simply adding together the scores from the categories of Best Overall Research and Best Overall Sales Service in each of these countries.
One to two working days after respondents have submitted the poll, they will receive from Asiamoney a validation email; respondents need to click on a validation link in this email to verify their vote submission and thus complete the polling process. If respondents do not complete the polling process by clicking the link, that does not mean their vote submission will be voided; Asiamoney will follow up and attempt to verify via other means.
Asiamoney will investigate and audit individual responses; responses suspected of being fraudulent will be voided and violating parties may face black listing from Asiamoney Polls.
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This poll is not based on scientific or representative samples. As set out in our Methodology, The results of the poll and other related information have been obtained from various opinion-based sources and have not been independently or professionally verified. The results of the poll are therefore statements of opinion of participants of the poll as of the date of participation and not statements of fact.
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