FAQ

We produce more than 60 rankings in five general areas of interest:

Leading Analysts: Annual rankings of the best sell-side researchers in a dozen countries and regions; prominent examples include the All-America Research Team and the All-Europe Research Team.

Sales, Trading & Corporate Access: Annual rankings of brokerages that provide the services that institutional investors value most; prominent examples include the All-America Sales Team and America’s Top Corporate Access Providers.

Leading Executives: Portfolio managers and sell-side researchers pick the best corporate leaders and investor-relations professionals; prominent examples include the All-America Executive Team and the Latin America Executive Team.

Top Money Managers: Annual rosters of the largest national and regional asset management firms; prominent examples include the II 300, our exclusive annual ranking of the top money managers in the U.S., the Asia 100 and the Euro 100.

Research Teams:

A firm must report actively managed assets in the country or region under consideration and procure research from multiple providers in that region; proprietary clients are ineligible. Assets-under-management minimums vary by survey and investing style (e.g., pension funds vs. hedge funds). The names of those surveyed and the institutions they work for are kept confidential.
Equity Traditional Accounts Equity AUM Min Hedge Fund Min
All-America Research Team 750 mill 100 mill
All-Asia Research Team 500 mill 100 mill
All-Europe Equities Research Team 750 mill 100 mill
All-Japan Research Team 500 mill 100 mill
Emerging EMEA Research Team 500 mill 100 mill
Latin America/All-Brazil Research Team 500 mill 100 mill
Fixed Income Traditional Accounts Total FI AUM Min Hedge Fund Min
All-America Fixed-Income Research Team 750 mill 100 mill
All-Europe Fixed-Income Research Team 750 mill 100 mill
An analyst must publish investment research and distribute it to clients during the period covered by the poll. Each Institutional Investor research team survey is divided into at least two segments: Industries and Economics & Strategy. Analysts must be certified pursuant to Regulation AC (or equivalent) to be recognized as winners or team leaders in all industry sectors; no such restriction applies to the sectors in Economics & Strategy categories. Winners must achieve a minimum vote count.

No. We have a propriety database listing thousands of the world’s top money managers; it is this audience that we target for participation in each survey. The names of those surveyed are kept confidential.

Inquiries may be directed to Dynah Kent, Head of Voter Engagement, dynah.kent@institutionalinvestor.com

Sell-side firms can submit their roster for inclusion on the ballots’ pre-populated drop-down menu. But we also allow survey participants to vote for whomever they wish and names can be written in. All sell-side analysts are eligible for consideration provided they meet the requirements outlined above.

Rankings are determined solely by numerical score. With individual-based surveys, a score is produced for each analyst by weighting each vote based on the respondent’s equity and/or fixed-income assets under management in the country or region under consideration, and on the rank awarded to the individual (first, second, third or fourth). An analyst is designated runner-up when his or her score falls within 35 percent of the third-teamer’s score.

With team-based surveys, respondents vote for individual analysts; these votes are combined for firms in each sector. A numerical score is produced by weighting each vote based on both the respondent’s assets under management in the region under consideration and the place awarded to the brokerage firm (first, second, third or fourth). Teams are designated runners-up when their scores came within 35 percent of the third team’s scores.

For most surveys, both individual-based and team-based rankings are produced.

The All-America Research Team is a ranking of individuals, with the exception of four sectors — Equity-Linked Strategies, Master Limited Partnerships, Real Estate Investment Trusts and Washington Research — where team-based coverage is the industry norm.

The All-America Fixed-Income Research Team is a mix of individual and team categories, with individuals ranked in the High Yield and Investment Grade sectors and teams ranked in the Economics & Strategy categories.

The All-China Research Team is a ranking of individuals.

The researcher featured for each winning group is the analyst designated as team leader by the firm.

Names of co-leaders, where applicable, are always presented in alphabetical order, in recognition of the fact that the two share equal responsibility for guiding the team. No more than two co-leaders are allowed.

We do not disclose the exact date on which a ballot is distributed; however, we do notify the sell side once a ballot has gone out. Polling generally lasts about four weeks per survey. Listed below are the approximate dates of distribution:

The All-America Research Team Early May
The All-America Fixed-Income Research Team Early March
The All-Asia Research Team Early January
The All-Brazil Research Team Late March
The All-China Research Team Late August
The All-Europe Research Team Early September
The All-Europe Fixed-Income Research Team Early September
The All-India Research Team Late July
The All-Japan Research Team Early November
The Emerging EMEA Research Team Early February
The Latin America Research Team Late March

Listed below are the dates on which the latest results of each survey will be published on our website. Feature coverage can be found in the magazine published the month after the online release:

The All-America Research Team October 9, 2018
The All-America Fixed-Income Research Team July 17, 2018
The All-Asia Research Team May 7, 2018
The All-Brazil Research Team August 7, 2018
The All-China Research Team November 27, 2017
The All-Europe Research Team February 6, 2018
The All-Europe Fixed-Income Research Team February 20, 2018
The All-India Research Team December 5, 2017
The All-Japan Research Team April 9, 2018
The Emerging EMEA Research Team June 12, 2018
The Latin America Research Team July 31, 2018

These dates are subject to change, so please check back for updates.

Sales Teams, Trading Teams and Top Corporate Access Providers:

Sales Teams

We invite respondents in our research team surveys to tell us which firms have the best sales teams. In all regions, we ask for the best generalist sales team in eight different sales attributes. Responses are aggregated to create an overall rank for each company. We also ask for specialist sales teams in the U.S. and Europe, on the category or sector level, respectively. Participants can name up to four salespeople for each question. We weight votes by a respondent's equity assets under management in the country or region under consideration and by the place awarded (first through fourth). The names of those surveyed are kept confidential to ensure their continuing cooperation. Winners must achieve a minimum vote count.

Trading Teams

To determine the members of our trading teams, we survey buy-side traders and other investment professionals at asset management firms, hedge funds, and mutual funds that trade in the region under consideration. Voters are invited to rank their top execution and trading service providers on several key attributes for Electronic, High Touch and Portfolio Trading as well as content in our Unique Market Color section. Voters choose up to four providers for each attribute within these areas.

Votes are then weighed based on the participating institution’s estimated gross secondary market commissions for cash equities in the region for the previous year. Service providers also receive different weights based on how voters position the broker (first, second, third or fourth). The weighted votes are used to create scores for each firm, which determined the rankings. The leaders tables for High Touch, Electronic and Portfolio trading are based on the aggregate scores of the attributes in each category.

Top Corporate Access Providers

To determine the Top Corporate Access Providers in the U.S., Europe, Asia (ex-Japan), Japan and Latin America, we ask research team survey participants to tell us which firms offer the best access to chief executive officers and other leaders of the companies they cover. Respondents are invited to name up to four firms across five different attributes in each industry sector in which they cast votes for equity research analysts. Votes are weighted by the respondent’s assets under management in the country or region under consideration and by the place awarded (first through fourth). Responses are aggregated to create an overall rank for each company within the sector. Winners must achieve a minimum vote count.

Additionally, we also ask the corporates to tell us the four firms with which they prefer to partner when participating in corporate marketing events, across the same five attributes. Votes are weighted by the place awarded (first through fourth) and responses are aggregated to create an overall rank for each company.

Executive Teams:

Our executive team rankings illustrate how corporate leaders and companies are viewed by investment professionals on both the buy and sell sides. We currently publish five such analyst-perception studies, covering Asia (ex-Japan), Europe, Japan, Latin America and the United States.

Buy-side analysts and money managers who vote in the relevant research team surveys are eligible to participate in the associated executive team survey. They are invited to name the best chief executive officers, chief financial officers and investor relations professionals at the companies in their coverage universes.

We also ask them to identify up to four companies that excel in several IR attributes, including providing access to senior management, financial transparency and disclosure, and so on. Responses to these questions are aggregated to produce an overall rank for each company.

Analysts who cover the industry sectors in the All-America, All-Asia (ex-Japan), All-Europe, All-Japan or Latin America research teams are invited to participate in the executive team survey associated with the relevant country or region, and to tell us who they consider to be the best chief executive officers, chief financial officers and investor relations professionals at the companies in their coverage universes.

These analysts, too, are asked to identify up to four companies that excel in several IR attributes, including providing access to senior management, financial transparency and disclosure, and so on. Responses to these questions are aggregated to produce an overall rank for each company.

Although the investment professionals who cast and receive votes in the relevant research team survey are the primary voter universe for the affiliated executive team, we do allow other investment professionals to participate. For more information, or to request a ballot, please send an email request to IIET@institutionalinvestor.com.

All votes are weighted by place (first, second, third or fourth). The overall rankings in each of the four categories — Best CEO, Best CFO, Best IR Professional, Best IR Company — are based on combined buy- and sell-side votes. Separate rankings for buy- and sell-side responses are also available for each award classification.

Most Honored Company is a designation awarded to those companies achieve two or more top-three appearances in the combined (buy side and sell side) rankings results; rank is determined by weighted score wherein each first-place position is worth three points; second place, two; and third place, one. When a tie exists in the weighted score, companies are ordered according to the number of ranked positions they receive in their industry sectors.

To be eligible for inclusion on any of the Executive Teams, a company must be headquartered or have operational or executive headquarters in the relevant region.

Executive team questions are included on the appropriate research-team ballot for buy-side participants while sell-side participants are polled separately during the same period. Whereas polling for research team tends to last about four weeks, executive-team polling lasts longer, to allow ample time to participate. We do not disclose the exact date on which a ballot is distributed but do offer the following general guidelines:

The All-America Executive Team Early May
The All-Asia (ex-Japan) Executive Team Early January
The All-Europe Executive Team Early September
The All-Japan Executive Team Early November
The Latin America Executive Team Late March

Listed below are the dates on which the latest results of each survey will be published on our website. Feature coverage can be found in the magazine published the month after the online release:

The All-America Executive Team November 6, 2018
The All-Asia (ex-Japan) Executive Team July 2, 2018
The All-Europe Executive Team March 20, 2018
The All-Japan Executive Team May 15, 2018
The Latin America Executive Team August 28, 2018

These dates are subject to change, so please check back for updates.