Caixin
Nov 07, 2018 07:03 PM
FINANCE

CICC’s Capital Market Analysts Voted China’s Best by Industry Peers

Institutional Investor has partnered with Caixin to conduct the second annual All-China Research Team Survey to rank the nation’s equity research teams. Photo: VCG
Institutional Investor has partnered with Caixin to conduct the second annual All-China Research Team Survey to rank the nation’s equity research teams. Photo: VCG

China’s capital market has become more relevant to foreign markets and investors as it is increasingly opened up. However, concerns are emerging in the market over the trade war with the U.S., the nation’s slowing economy, and the depreciation of the yuan, which dipped to a 10-year low last month.

At a time of great uncertainty, domestic and international investors are looking for more in-depth insight from analysts in China. To provide a more comprehensive overview of the quality of research done within the country, Institutional Investor has partnered with Caixin to conduct the All-China Research Team Survey to rank the nation’s equity research teams.

More than 3,200 investment professionals at over 900 institutions, which manage an estimated $869 billion in Chinese equities, participated in this year’s survey. Institutional Investor said on its website that in addition to the team and individual analyst leaderboards, the results were also split into two sub-categories based on the voters: Chinese Mainland and Rest of World.

China International Capital Corp. Ltd. (CICC), a joint-venture investment bank headquartered in Beijing, was voted No. 1 by Chinese investors in the overall team-based ranking, followed by Guotai Junan Securities and UBS. Overseas investors also voted CICC No. 1 and gave Citi and UBS the second and third team spots.

In addition to CICC, Citi and UBS, the top 10 teams with the most overseas votes included Morgan Stanley, Bank of America Merrill Lynch, Credit Suisse, Huatai Securities, Deutsche Bank, J.P. Morgan, ICBC International Research and Nomura. ICBC and Nomura were tied for 10th.

CICC’s teams won top three spots in 25 of the 28 investment sectors voted on by Chinese investors, including coal, internet, pharmaceuticals and biotechnology, textile and apparel, machinery, alternative energy and environmental services, electronics, and real estate.

In the overall analyst ranking, CICC analysts came in second, fifth, sixth, and ninth places.

“These are results evaluated by the market participants,” said Will Rowlands-Rees, managing director of research at Institutional Investor. “We don’t evaluate by ourselves. These are the viewpoints from the market.”

To read the full rankings, click here.

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