Research FAQs
How many rankings does Institutional Investor produce each year?
Research Teams:
What are the requirements for buy-side participants?
What are the requirements for sell-side participants?
Is voting open to all money managers?
Can I nominate an analyst for consideration?
How are the rankings determined?
Why are some surveys individual-based and others team-based?
How are team leaders chosen?
What is the polling schedule?
What is the publication schedule?
Sales Teams, Trading Teams and Top Corporate Access Providers:
How are the rankings determined?
Executive Teams:
What is an executive team survey?
What are the requirements for buy-side participants?
What are the requirements for sell-side participants?
How are the rankings determined?
What is the polling schedule?
What is the publication schedule?
How many rankings does Institutional Investor produce each year?
We produce more than 60 rankings in five general areas of interest:
Leading Analyst: 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
Global Rankings: Rosters of sovereign creditworthiness, custodial banks, investment research providers and more. Prominent examples include Country Credit and the World’s Best Hotels.
Research Teams:
What are the requirements for buy-side participants?
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.
What are the requirements for sell-side participants?
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.
Is voting open to all money managers?
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
Can I nominate an analyst for consideration?
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.
How are the rankings determined?
For team-based rankings, 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 come within 35 percent of the third team’s scores.
Why are some surveys individual-based and others team-based?
The All-America Research Team is a ranking of individuals, with the exception of three sectors — Equity-Linked Strategies, 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.
For all other surveys both individual-based and team-based rankings are produced.
How are team leaders chosen?
The researcher featured for each winning group is the analyst designated as team leader by the firm or in some cases the one recognized most frequently by investors.
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.
What is the polling schedule?
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 |
What is the publication schedule?
Listed below are the dates on which the latest results of each survey will be published on our website. Feature coverage and be found in the magazine published the month after the online release:
| The All-America Research Team | October 10, 2017 |
| The All-America Fixed-Income Research Team | July 17, 2018 |
| The All-Asia Research Team | May 21, 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:
How are these rankings determined?
We invite respondents in our research team surveys to tell us which firms have the best sales teams. Participants can name up to four firms for each question. We weight votes by a respondent's equity and/or fixed-income 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 TeamsTo 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 ProvidersTo determine the Top Corporate Access Providers in Asia, Europe, Japan and the U.S., 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 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). Winners must achieve a minimum vote count.
What is an executive team survey?
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.
What are the requirements for buy-side participants?
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.
What are the requirements for sell-side participants?
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.
How are the rankings determined?
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.
| 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 |
What is the publication schedule?
| 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.