The poll covers the following 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, participating firms, analysts and sales personnel need to service three or more countries/independent markets. For the purpose of this poll, Hong Kong is considered an extension of the mainland China market. For example, for Chinese brokers and their staff to be considered regional, they must service two additional markets beyond mainland China and Hong Kong.
Regional Equity Sales
Regional Equity Research
The industries covered are those given the highest weighting in the MSCI Asia ex-Japan index as of April 2020. The poll will be producing individual and team rankings for the following industries.• Strategist
• Best for corporate access
• Best overall research
• Best analyst per sector in the most frequently traded industries in that market
• Best analyst for small/mid-caps
• Best strategist
• Best economist
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):
Rankings for Overall combined regional research & sales, Overall regional research, and Overall regional sales
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 2020) 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:
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/independent markets.
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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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