"This year is the 44th year we're hosting these awards, and we're taking the rankings to a new level by including the views of institutional investors in the rest of the world," says Rob Rose, the editor of the Financial Mail. "These results will incorporate the Extel/Institutional Investor rankings of the South African sell-side industry, compiled from a survey of asset managers in 55 countries. "
For the fourth year running, Standard Bank SBG Securities was awarded as the Overall Top firm. As in 2018, Peregrine Securities maintained its position as the Top firm – Execution: Derivatives.
Similarly, RMB Morgan Stanley held its ranking as the Top firm – Execution: Equities Dealing, as well as maintaining top spot in the Corporate Access, Administration, and Sales Team categories. Rand Merchant Bank replaced Nedgroup Securities as the Top firm – Execution: Fixed Interest Securities for 2019.
André Bekker from Arqaam Capital was awarded as Young Analyst of the Year 2019: Equities, while Odwa Sihlobo from Prescient Securities was named Young Analyst of the Year 2019: Nonequities
Intellidex's survey of SA-based asset managers covers about 90% of the institutional market, and is compiled through a series of confidential questionnaires completed by domestic institutional clients of local stockbroker firms.
The Financial Mail has been associated with this survey since 1975 - the only ranking in South Africa that provides a reliable and independent ranking of the skills in the industry. A special report on the 2019 research findings will be published in the Financial Mail on Thursday, 30 May 2019.
Stuart Theobald, the founder of Intellidex, which performed the research, said the FM rankings remain the key accolade for any broker to walk into a client pitch in South Africa. "The FM also goes further than ranking teams to cover analysts in 40 different research categories, providing the only way that clients can identify the leading brains on particular subject areas," he said.
The new ratings come at a tough time for the broking industry, which is battling the impact of Europe's MiFID 2 guidelines, which compel stockbrokers to separate their fees for research and execution.
Says Theobald: "Mifid2 has put significant pressure on budgets for research so analysts are now having to work harder to prove they are worth the value to clients. The FM rankings are one clear way that analysts who deliver value can be recognised"