Independent Research Provider Members
A Certified Provider Member must attest that they do not derive their revenue primarily from investment banking, underwriting or corporate broking, proprietary trading or market making, management consultancy services for clients other than investors, or from companies that were the subject of this research. Our Euro IRP Membership is listed below. For information about the type of research our members produce please visit our Euro IRP Directory.
Absolute Strategy Research
Absolute Strategy Research Limited is a specialist financial consultancy that is dedicated to providing high quality macroeconomic, equity strategy and asset allocation research and advice to institutional investors around the world. As well as publishing regular investment strategy products, the firm also undertakes bespoke consultancy projects, and has an acknowledged expertise in the field of financial surveys. Contacts: Ian Harnett (firstname.lastname@example.org) and David Bowers (email@example.com)
|Contact(s):||Ian HarnettDavid BowersVerity HuntGlenn Bedwin|
|Telephone:||+44 207 073 0730|
ADA is a macroeconomic research platform founded by economist Raffaella Tenconi in 2016 with the aim to be the first genuinely global integrated research platform that provides superior insight and data to policy makers, institutional investors and entrepreneurs. With ADA Raffaella decided to address the growing need in the market for targeted and ad hoc macro economic research based on small data analysis. She developed a unique model based on the rigorous application of a propriety three-step approach called Analyse.Debate.Act. ADA offers four main areas of business: Macroeconomic Analysis, Dynamic Analysis, Field studies and Small Data Surveys. ADA was the first company to offer small data surveys on the most topical macro events such as Italian Referendum vote in 2016, Brexit and Trump implications. ADA is currently working on surveys on the French and German upcoming elections. Raffaella Tenconi is a renewed macro economist with more than 15 years experience as a senior economist at prominent investment banks. Before founding ADA, Raffaella was Senior European Economist at Merrill Lynch, voted top Italian economist in 2014 in Institutional Investors. She started her career specialising on emerging countries, particularly Asia and Eastern Europe. Among her advisory role roles, she was one of the main economic advisors to the Hungarian and Icelandic government during the financial crisis. She is well known among the Institutional Investors community in both Europe and US.
|Telephone:||+44 (0)7594 704277|
We are an independent ‘Agency Broker’ with traditional values and a focus solely on institutional clients. We specialise in sectors of the equity market where we feel we can add value with our highly rated analyst teams. We refuse to compromise our product with corporate business and therefore we are free at all times to recommend investment ideas. From 2010 our clients have enjoyed an unbiased and focused product which is clearly differentiated. We have experienced analyst teams covering the following sectors: Global Aerospace & Defence; European Capital Goods; UK Utilities; and European Quantitative Strategy. Each analyst maintains full financial models on every company covered and this is alongside company notes, daily sector updates, results analysis and sector themed notes. The key is our ability to be independent and therefore to write timely and thought-provoking research that clients find interesting. The absence of corporate clients allows us the freedom to concentrate solely on our institutional clients, leading to less biased, more balanced equity research.
|Telephone:||+44 207 186 7186|
Alphavalue is Europe’s leading research provider of pan-European equity research. AlphaValue provides fundamental analysis based upon exhaustive and homogeneous research, which allows us to compare stocks geographically, sector-wise and thematically. For doing so, AlphaValue has developed a proprietary methodology which is applied to listed companies, and which is based on a consistent process. The breadth of coverage – about 500 European companies - across 130 sectors and 17 countries, allows AlphaValue to provide insight on markets & sectors and highlight the best investment in Europe. Alphavalue's research is accessible only on a secure, subscription basis to Institutional Clients
|Telephone:||+33 1 70 61 10 52|
We work with investors who understand our basic proposition – good ideas presented for investors, written by investors, in a simple manner, focused on what matters. We are fundamental, bottom-up stock pickers, our investment horizon is long-term and we do not pay undue attention to short-term noise.
"After spending ten years on the buy-side at Fidelity and then a major hedge fund, I wanted to move away from the intellectual constraints of the City, search the globe for new ideas and write interesting research. I was amazed by the scarcity of brave investment ideas and truly independent research available to fund managers. The industry is defined by consensus thinking, short-termism and a lack of clarity as to what really matters when making sound investment decisions. The team of analysts that I have brought together deliver for our clients actionable, high-conviction ideas, supported by rigorous fundamental research." Mark Hiley, Founding Partner
Our Investment Philosophy:
- Independence: We are not affiliated to any institutions that could bias our research. We do not profit from trades, we cannot be influenced by company relations and, as a result, we are not afraid to be bold in our views.
- Value: We look for dramatic misvaluations in stock prices. This is usually found at major inflection points in an industry and at times of extreme fear or greed.
- Perspective: By stepping away from the institutionalised thinking of the City, we can focus on what really matters and ignore the noise of the herd.
- Unrestricted: We look at any stocks in any sector, of any size, in any place. We want to find the best ideas for our clients, from the wealth of listed stocks worldwide, and we are open-minded about where we find them.
- Fundamentals: A comprehensive understanding of how a business works and its financial fundamentals is critical to reaching an investment conclusion. Our research is grounded in rigorous analysis.
|Contact(s):||Myria Demetriades, Development Executive|
|Telephone:||+44 20 7498 6593|
Andrew Hunt Economics
Established in 2001, Andrew Hunt Economics provides a global but focused flow of funds based approach to forecasting the likely evolution of key economic variables in the G20 and Asia. Prior to forming Andrew Hunt Economics, Andrew Hunt was the International Economist for Dresdner Asset Management.
|Telephone:||+44 7867 503 690|
APTI Research is a provider of independent and unconventional investment research. We use state-of-the-art methods to derive superior intelligence from open sources. Our Management Team has a background the financial and defense research industry. APTI was founded in 2004. We are based in Stockholm.
|Contact(s):||Simon Sharpe, Head of Distribution|
|Telephone:||+44 7818 094621|
Founded in early 2000 by experienced research professionals, Arete is the pioneer in independent equity research, and has the largest team of experienced analysts specialising in global technology, telecoms and alternative energy sectors. Arete is the trusted source of equity research, to over 150 of the world’s most sophisticated tech investors.
|Contact(s):||Julia Ashworth, CFO & COO|
|Telephone:||+44 207 959 1300|
KNOWLEDGEABLE, INDEPENDENT, FOCUSED AtonRa Partners is an independent research company providing institutional and professional investors with original investment ideas and advice. Our approach is based on a deep knowledge and understanding of market dynamics and focuses on adding value to clients' portfolios via thoroughly checked proprietary information and data sources. We cherish a "speak our mind" approach in our reports. AtonRa success derives directly from its clients' performances.
|Contact(s):||Stefano RodellaBrice Mari|
|Telephone:||+41 22 310 15 01|
Autonomous Research LLP aims to be Europe’s leading independent research provider on banking and insurance companies. Our team has unrivalled industry knowledge, with over 180 years coverage of financial institutions. Our people have a proven track record of generating ideas and helping our institutional clients out-perform. This is evidenced by numerous industry awards over many years. We are 100% free from external control and constraint. We are a partnership owned by the staff – there are no outside investors. We will never offer investment banking services nor will we ever engage in proprietary trading activities. So we will be fully focused at all times upon servicing our institutional clients’ needs At Autonomous we are committed to excellence in research. Our teamwork will allow us to offer unique insights. We will search for the best ideas both across sectors – banks and insurers – and across asset classes – equity and credit.
|Telephone:||+44 207 776 3400|
BCA Research is the leading independent provider of global investment research. Since 1949, BCA’s mission has been to support its clients in making better investment decisions through the delivery of leading-edge analysis and forecasts of all the major asset classes and economies, as well as educating, informing and stimulating discussion through clear and thought-provoking research. BCA provides its services to investment professionals and multi-national corporations across six continents through a wide range of products, services and meetings. The firm maintains a head office in Montreal, with local offices in London, New York, Hong Kong, San Francisco, Sydney, Cape Town and São Paulo.
|Contact(s):||Bashar Al-Rehany, CEOAngus Hume, SVP|
|Telephone:||+1 514 499 9550|
Beyond Ratings is an independent Macro-financial risk services company dedicated to country and Sovereign risks. Our team of experts and analysts builds on our proprietary risk methodology and advanced indicators. We assess countries wealth, monitor their economic and financial performance and resilience to global risks, such as energy prices and climate change. Our clients use our services for risk management, investment advisory, financial engineering and reporting requirements. Our clients are pension funds, asset managers, infrastructure funds, development banks, commercial banks and insurers.
|Contact(s):||Sylvain CHATEAU Anne-Laure Paty|
|Telephone:||+33 986 27 57 57|
Camdor Global Advisors
Camdor Global Advisors is a specialised investment advisory firm, providing investment and risk management services to institutional investors, especially those with liabilities.
We provide macro economic research alongside in-depth analysis into alternative asset classes. Our research is focussed towards identifying the key macro risks to pension funds and insurance companies. We produce macro research on a quarterly basis and in-depth studies into specific alternative asset classes semi annually. Please find at the bottom of this page several examples of our research and our most recent macro piece, a look at Deglobalisation 2.0.
Our research is fundamental to our wider business, we take a holistic approach to our projects and our research is the foundation of this approach. Whether it be dedicated research projects or for the wider business activities, we pride ourselves on innovative, focussed and original research which we believe adds value to our clients specific needs. Below are the areas we offer advisory services to our clients:
- Alternatives Asset Classes
- Sourcing & Structuring
- Capital and Regulatory Advice
- Investment Strategy
- Pension Buyouts
- Investment Research (white papers, on-going commentaries, etc)
- Fund Analysis Due Diligence + Manager Selection
- Governance- Risk Management
- Portfolio Management
|Contact(s):||Dr Bob SwarupAnthony Kerr|
|Telephone:||+44 (0)776 960 1361|
Capital Alpha Partners
Capital Alpha Partners, LLC is an independent research firm, providing public policy guidance and in-depth political analysis to institutional investors in North America, Europe & Asia. Based in Washington, DC, the team of eight senior analysts assesses the market significance of U.S. government activity affecting the financials, healthcare, industrials, energy, utilities, telecom, and consumer sectors. They also analyze fiscal policy, election risk, geopolitics, labor, and trade. Investors – whether Global PMs or industry analysts, short- or long-term holders – depend on Capital Alpha’s experienced, nonpartisan coverage of legislative activity, the regulatory process, budget data, and related politics to contextualize U.S. political developments.
|Telephone:||+1 202 548 0102|
Capital Economics is one of the leading independent economic research companies in the world. We provide country and regional research on the US, Canada, UK, Western Europe, Japan, China, India, Latin America, Emerging Europe, the Middle East, Africa, Emerging Asia, Australia and New Zealand. We also provide overview services covering the global economy and financial markets, and have dedicated services providing research on commodities and on the property sector.
We offer support to clients in their respective time-zones through offices in Toronto, New York, London, Singapore and Sydney. Our large team of more than 60 economists are available for personal contact via telephone and email, and also for presentations. In addition, we undertake bespoke projects and consultancy.
|Telephone:||+44 20 7823 5000|
Founded in 2010, CM Research offers thematic research covering the global technology, media and telecom (TMT) industries. We help asset managers focus their time on the most interesting investment opportunities within global TMT. We do this by identifying multi-year investment themes and finding the companies that will be impacted by them, both positively and negatively. Our focus is on disruptive technologies. How will they unfold? Which industries will be impacted? And who will be the ultimate winners and losers? We cover the top 500 global technology, media and telecom stocks as well as smaller public or private emerging technology companies. Increasingly, we are expanding our coverage into other industries that will be disrupted by new technologies, such as Industrials, Healthcare, and Automobiles. Our clients include both generalists and TMT specialists. Our stock picks have consistently outperformed the Bloomberg Benchmark Ratings Index. Our thematic research aims is to address some of the inherent weaknesses in bottom-up, fundamental research.
|Telephone:||+44 203 393 3866|
Consumer Edge Research is a preeminent independent equity research boutique focused on the global consumer, including the consumer staples and consumer discretionary sectors. We generate non-consensus ideas combining uniquely thorough, fact-based, primary research with rigorous valuation analysis and perspective from years of covering our sectors. Our team has over 100 years of combined experience in the consumer and financial services industries. Our data are gathered both from global syndicated sources as well as primary research surveys, industry insights and other proprietary data collection. We offer a high level of service and responsiveness by keeping a focused client list.
|Telephone:||+1 203 504 8122|
Costigan Reports Inc.
Costigan Reports Inc. is an independent and conflict-free North American equity research boutique based in Vancouver, Canada. We provide timely, actionable mid- and small-cap (between $1 billion and $10 billion) equity investment ideas to our clients on a monthly basis. The majority of our selections have limited coverage by the street. Ours is a mosaic approach. We first apply a fundamental bottom-up analysis of material public information and combine it with non-material, non-public information. We specifically seek out and endeavour to take advantage of market inefficiencies. We search for North American companies with specific attributes: strong operating cash flow, strong balance sheet, good corporate governance with a clearly defined capital deployment strategy, and a catalyst to move the stock higher over the near-term (one year) and the medium-term (three years).
Creative Global Investments
CGI is an Independent Research Provider with focus on offering our select global institutional clients alpha return strategies ahead and beyond our competitors. Our differentiation from our competition lies in the high percentages of successful alpha enhancing investment ideas that we have delivered over the years to our clients, who have entrusted us to enhance their portfolio performance. Our research objective is to be more efficient in the selection of our recommendations, and target "winning strategies" rather than maintenance research.
|Contact(s):||Carlo R. Besenius, CEO|
|Telephone:||+352 2625 8640|
CreditMarketDaily.com is an online resource that meets the need for insightful corporate bond market commentary and views, with content made available and easily accessible not purely through the banking sector. Our contributors are experts in their respective fields, enjoy vast experience of the markets and have a real passion for the sector. Dr Suki Mann is a veteran of the markets with over two decades under his belt. Ranked the number one European Credit Strategist in eight out of ten years in the Euromoney Analyst Survey, he shares his thoughts on the corporate bond market on a daily basis on the creditmarketdaily.com site.
CreditSights was founded by a group of analysts in September 2000, and the firm has grown from 8 original employees to over 120 worldwide. It has been recognized multiple times as the top independent credit research provider by Credit Magazine in the US and Europe. With its main offices in New York, London and Singapore, CreditSights is purely a research firm and does not underwrite securities or manage assets. Its research is distributed as a password-protected subscription service, and it has over 1,000 institutional clients based in the US, Europe, Middle East, Asia and Australia. Its active coverage universe includes around 1,000 of the most widely-traded names across 40 industries.
|Contact(s):||Simon AdamsonDavid Watts|
|Telephone:||+44 207 429 2080|
CrossBorder Capital is an FSA regulated, independent global investment advisory firm, founded in 1996, specialising in asset allocation and the analysis and monitoring of global liquidity flows. Our research is used by many of the world’s leading investment houses to guide asset allocation. By focusing on global liquidity conditions using data sourced from Central Banks, stock exchanges, banks and the IMF, among others, CrossBorder Capital have developed a model that predicts with remarkable accuracy market turning points, thereby helping leading investment managers anticipate market opportunities and risks. The research and data are widely acknowledged as unique in the industry.
|Contact(s):||Michael Howell, Managing DirectorAngela Cozzini|
|Telephone:||+44 207 868 4104|
Denny Ellison provides bespoke equity research to asset managers. The research is written by a team of experienced analysts who have worked across several sectors and geographies. We do not publish the research that we write for clients, it is delivered only to the institution that commissioned it. Our mission is to help our clients meet their investment objectives by providing them with a completely customised equity research service.
|Telephone:||+44 207 183 7645|
Drewry Financial Research Services
Drewry, since 1970, has established itself as a firm with long history of credibility and expertise on the maritime industry. Leveraging this in-depth market knowledge and understanding, we have extended our offering to deliver a unique, independent investment research service on globally listed companies. Under the brand Drewry Maritime Equity Research and in accordance with the FCA, DMER offers fundamental analysis on listed companies. DMER analysts have access to one of the most up-to-date, comprehensive and reliable sources of market insight and research data available today. By combining these market-leading resources with seasoned sector expertise, we are able to offer a highly differentiated and comprehensive investment research service to prospective investors in listed maritime companies. We look at globally listed companies within the following sectors: Port Operators, Container Shipping, Container Manufacturing & Leasing, LNG Shipping, Dry Bulk Shipping and Tanker Shipping. Combine in-depth sector expertise with financial analysis focusing on over 50 stocks globally.
|Contact(s):||Rahul KapoorNigel Gardiner|
|Telephone:||+44 20 7538 0191|
ECR Research was founded in 1979 and has built up an excellent reputation as being one of the leading providers on global financial markets research. We are specialized in providing clear and concrete views on global macro, political, FX and Interest rate developments, as well as providing a series of reports on asset allocations and a selection of morning market briefing and tools. Our team invests over 200 hours every week comparing opinions, weighing arguments and discussing scenarios, all based on more than 100 sources of leading research.
Financiele Diensten Amsterdam
Financiële Diensten Amsterdam (FDA) has been providing investment advice based on a combination of independent equity research and macroeconomic analysis to institutional investors since 1986. Our online research system contains detailed coverage for 34 countries and about 150 international blue chips with a focus on European and US stocks across 12 sectors. For every country the assessment of investment risks is reflected in an FDA rating. Company research includes daily news analyses, detailed financial estimates and comprehensive risk assessments based on peer analysis. In addition, an extensive sustainability assessment is available for all covered companies.
FDA is completely independent and free of potential conflicts of interests. Our customers pay directly for our advice and research. We do not have a brokerage arm or derive any revenue from the transactions of our clients. Neither do we have any business relationships with the companies that we cover. Moreover, FDA analysts are under contractual obligations not to hold personal positions in individual equities.
|Contact(s):||Jan van der Meulen, Managing DirectorPhilip Stive, Marketing Manager|
|Telephone:||+31 20 69 72 926|
4CAST-RGE Ltd. was formed through the merger in early 2016 of Roubini Global Economics and 4CAST. Our offices are in London, New York and Singapore with 70 staff serving our clients globally.
We provide independent, global economic and market impact research helping clients to identify tomorrow’s macroeconomic trends today. Our content ranges from real-time data analysis to longer range macroeconomic, risk and scenario analysis.
Our proprietary, systematic, framework explores not only traditional flow variables but also balance sheet analysis—noting possible imbalances, vulnerabilities, asset mispricing and macroeconomic factors—covering over 170 economies around the world with proven application to equity markets most notably through our Roubini Barclays Country Insights investable equity indices
We complement that with award-winning real-time and shorter-range data/ technical analysis to challenge/confirm our longer-range forecasts and scenarios.
The combination, integrated and internally consistent, provides a unique service for clients helping them to set the longer-term direction of travel for their portfolios and informing their tactical decisions on how to get there
|Telephone:||+44 20 7881 8815|
FuturesTechs, founded in 2000, provides daily technical commentary and levels to a wide range of market professionals covering all the world’s leading Futures markets as well as bespoke analysis on UK Equities. Traders, Brokers and Fund Managers rely on our concise daily analysis, utilizing amongst other things Candlestick Analysis, one of the specialties of Founder Clive Lambert, who has written a book on the subject. The reports cover EU and US Bonds and Equity Indices as well as Forex and a wide range of Commodities, including Carbon Emissions. The UK Equity product provides signals as well as individual trade recommendations. A free trial is available.
|Telephone:||+44 777 172 8601|
Geospatial Insight Limited is an independent research and intelligence provider based in London. Specialising in equity, commodity and property asset classes, Geospatial Insight use large scale quantitative and qualitative analysis of satellite imagery and data to generate their unique insights.
Weekly and fortnightly products are published for a range of commodities, providing clients with proprietary insights. Substantive research and consulting services are also delivered, to support due diligence of assets being considered for portfolio entry. Once under management, Geospatial Insight’s asset monitoring service informs trading strategies and timing.
Industry sectors include; Agriculture, Mining, Manufacturing, Construction and Retail, particularly in frontier markets.
|Contact(s):||Dan Schnurr FRICS|
|Telephone:||+44 20 3318 3041|
GFC Economics is a London-based independent economic consultancy, with global reach. Founded in 1999 by Economist Graham Turner, GFC Economics distils the key financial data out there in order to predict underlying trends, financial happenings and the sustainability of the current economy. By subscribing to our services, clients are emailed commentaries and chartbooks that contain rigorous, independent macro-economic research, focused on the economic cycles of the US, Eurozone, the UK, Japan, China and Emerging Markets. Although all financial market participants benefit from our work, we tailor our products and services to hedge fund investors, managers, and advisers.
|Contact(s):||Liz BrightPhilippa Drinkwater|
|Telephone:||+ 44 (0) 20 8981 808|
GiraffEquity provides panoramic corporate analysis. Our truly independent research covers the governance, strategy and financials of listed companies. We favour the long term over the short term and quality over quantity. We offer complementary products, be they the desire for in-depth knowledge, turning points or idea generation. We commit to being fair and accurate in our assessments. We endeavor to present our opinions in a clear and concise manner. GiraffEquity Research is particularly suitable for fundamental and bottom-up investors, especially those who need expertise in French midcaps and are not able to attend local financial events.
|Telephone:||+33 6 60 59 03 71|
Graham Bishop is renowned for his vision, and the courage to propose radical ideas, yet ground them in a mastery of the technical details of the financial system. His influence at the meeting point of politics, economics and finance has built up since the early 1990s and his services enable you to follow progress in fitting together the jigsaw of the work streams planned to lead towards euro area financial/political union in the next few years. The four streams span such diverse subjects that many firms are not structured to deal with the implications for their business. The euro area will develop into a close political union during the next decade OR it will disintegrate. Either way, you need to have your finger on this pulse.
|Contact(s):||Hannah SassoneGraham Bishop|
|Telephone:||+44 142 477 7123|
Harlyn is a specialist in probability-based investing. We create systematic investment strategies which produce superior returns over the medium term, on an absolute and risk-adjusted basis, and which typically have a smaller maximum drawdown than their benchmark. The strategies can be implemented as published or they can be used as a critique for portfolios which have been developed using other techniques. We have developed strategies for asset allocation in all major currencies, sector rotation in global or regional equity indices and US fixed income, and country selection globally and in Europe. Our clients have access to a wide range of diagnostic tools which are not included in the published research. We believe that our “sell discipline” is consistently powerful and effective. We frequently identify assets which are misbehaving before an explanation based on traditional techniques has become apparent.
|Telephone:||+44 1763 208 601|
IDMidCaps was established in 2000 and is the French Leader in Independent Research on small and mid cap firms. Our business model is based on the sale of our service to institutional clients. This business model prevents us from any conflict of interest and our research is totally independent. We do not get any payment from the companies we analyze. Our product is aimed at institutional clients: asset management companies, brokers, venture capital companies, M&A bureaus. Via the website, our customers have access to an easy to use platform offering company profiles, news, fundamental financial analysis, historical data and forecast earnings, as well as peer groups and screening tools. We provide unbiased analysis through disciplined processes in compliance with laws and ethics. The research is produced by competent analysts with skill, care and integrity and it reflects the opinion of the author.
|Contact(s):||Gaël Faijean, CEO|
|Telephone:||+33 1 48 01 87 29|
The Idea Driven Equities Analyses company (“the IDEA!”) is an employee-owned research boutique that was founded in 2007. The company provides idea-driven and bespoke research on the Dutch market to a restricted group of investment professionals. Because of it’s focus, the company has the same priority as it’s clients: good ideas that bring performance. The IDEA! refrains from any corporate business in order to guarantee it’s independent voice. The combination of independent research, in-depth knowledge of the Dutch market and entrepreneurial spirit make the IDEA! an ideal sparring partner when investing in the Netherlands.
|Contact(s):||Henk Slotboom, RBA|
|Telephone:||+31 343 840 151|
Independent Minds is an independent research house specialising in European equities, with an emphasis on the Benelux. Our ideas are usually long term and often contrarian, and over the last decade they have collectively outperformed the benchmark significantly. The way we conduct our research has evolved over recent years to a role best described as sub-contract buy side, with quite a bit of time spent on special projects for clients or on governance issues. Our clients today pay by fees or CSAs. The company is regulated by the FCA, is incorporated in the UK, and also has a presence in the Netherlands.
|Telephone:||+44 207 930 8811|
Independent Strategy adds value to its clients by seeking out investment themes and opportunities, often challenging conventional wisdom. Independent Strategy means just that. Our research is based on a thoroughly objective view of the world as it is, not as some might like it to be seen. The characteristics of the research are independence of thought and a determination to focus only on money making ideas. This results in a totally fresh and original approach compared with the overwhelming volume of reports by brokerage houses.
|Telephone:||+44 20 7730 4965|
Insight Investment Research
Insight is the first sell side boutique dedicated to Global Infrastructure equity research. We leverage extensive equity research experience, industry knowledge and strong corporate relationships to produce differentiated independent research and provide new insights on stocks and the industry to global institutional investors. We provide clients with timely, concise and in depth reports based on detailed company and industry models. Our primary objective is quality of product and strictly limiting maintenance research allows us to focus in-depth on topics neglected by the market associated with a significant mis-pricing of shares. Coverage includes eighteen individual stocks across the Infrastructure sector in Europe and South America as of October 2016. We plan to expand our global coverage in a sector almost exclusively covered by regional analysts.
|Contact(s):||Robert CrimesHein Smit|
|Telephone:||+44 203 397 9182|
INTEGRAS is an independent, partner-owned, research boutique specializing in equity research. Founded by a team of experienced analysts, INTEGRAS seeks to provide in-depth company, sector and macroeconomic analysis as well as corporate access to assist the buy-side in the investment process. We have no ties to any brokerage, investment bank and asset management firm in any capacity. As such, we do not engage in any trading or corporate banking activity which we believe ensures full independence and a differentiated product offering. We specialize in Turkish stocks and Turkish macro picture.
|Telephone:||+90 212 269 13 81|
Investcafe Independent Research
Invescafe is Russia's first independent investment research firm, providing straightforward and topical analysis of the stock market and the economy. We offer coverage of companies representing all sectors of the economy irrespective of their market capitalization. Investcafe's customer base is made up of individual investors, whom we reach through our clients - Russia's largest retail brokers, major research aggregators and news terminals and through our website, which is among the most popular specialized investment research websites in Russia. Our analysts regularly appear in printed, digital and broadcast media and Investcafe is in the top-5 most quoted financial organizations in Russia.
|Telephone:||+7 903 720 03 65|
iRes Independent Financial Research & Advisory
iRes aims to add value to its institutional clients by providing thematic research and investment ideas. iRes combines in-depth political, macro, sector and equity analysis under a holistic approach to deliver executable investment decisions. Having Turkey as the primary focus, the firm also provides broad emerging markets strategies as well as investment assessments on client-specific areas on an exclusive basis. iRes has no direct or indirect connection with any brokerage firm, corporation, or government body. iRes is not a regulated entity.
|Telephone:||+90 532 261 2137|
Libra Investment Services
Libra Investment Services operates an equity valuation and market timing process called Apollo. The system uses PE, PS, PEbitda, PCF and PBV as proxies for what the market 'knows' about a stock, thus determining what is driving value, where current and medium term value is, to what extent risk is being priced in and, ultimately, a Graham and Dodd style Margin of Safety analysis. Aggregating bottom up information to determine the same value and risk metrics for sectors and indices, Apollo generates ideas from a universe of 6,000 stocks globally, providing a highly visual representation of risk and reward.
|Telephone:||+44 203 668 9717|
Longview Economics is an independent macroeconomic research boutique. We provide three distinct yet related groups of research products: i) Trading Recommendations; ii) Investment Recommendations; and iii) Global Macro Analysis. Longview was founded in 2003 by Chris Watling (CEO & Chief Market Strategist) and over the last decade Longview has developed a diverse client base that includes: Financial Institutions; Hedge Funds; Fund of Funds Managers; Private Banks; Private Wealth Managers; Family Offices; and Asset Managers.
Lucror Analytics is an independent credit research provider focusing on European and Asian corporate high yield markets. Lucror was established in September 2010 in Singapore by experienced market professionals and has since been entrusted as a reliable research partner by some of the largest and most reputable participants in the high yield segment. Our institutional clients include asset managers, family offices, hedge funds, investment and private banks who recognize the value and distinct advantage that independent credit research instils in their investment and risk management decisions.
|Telephone:||+65 6631 9721|
Management Joint Trust
Management Joint Trust is a Geneva based financial consultancy firm offering high value added financial graphics platforms to institutional and private investors. It was founded in 1969 by Edouard Owczarczak, a HBS Graduate, former Allied member of the NYSE and lecturer on financial markets for 20 years at the University of Geneva. Its traditional “Decider” institutional platform, on-line since 1984, provides Trend analysis, Targets calculation and Timing anticipation to asset managers and traders (global coverage, multi year to intraday). Its FinGraphs platform aimed at a wider audience delivers a simple methodology to monitor market trends, targets and market stress points.
|Telephone:||+41 22 328 93 33|
Manalo LLP provides independent event driven research and advice to hedge fund managers and institutional investors on definitive and pre-announced mergers & acquisitions (M&A) transactions, as well as special situations surrounding non-M&A corporate events. With over 15 years’ experience in risk arbitrage and investment banking, we specialise in providing event driven research and advisory services on European risk arbitrage and special situations. Our subscription-based research service covers select M&A deals from every angle, with a particular focus on identifying and analysing the key upside and downside risks to a particular transaction.
|Telephone:||+44 208 220 9134|
Markit Securities Finance
Markit Securities Finance provides global securities lending data, tracking short selling and institutional fund activity. The unique data set covers more than 3 million intraday transactions, spanning $12 trillion of securities in the lending programmes of over 20,000 institutional funds. Content is sourced directly from prime brokers, custodians, asset managers and hedge funds. Markit Securities Finance is part of Markit, a leading, global financial information services company with over 2,500 employees. The company provides independent data, valuations and trade processing across all asset classes in order to enhance transparency, reduce risk and improve operational efficiency. Its client base includes the most significant institutional participants in the financial market place.
|Telephone:||+44 207 260 2000|
MDB insights builds reports, research and analysis products based on the anonymised data collected by a UK consumer personal financial management tool, www.moneydashboard.com. These products provide a live view onto the spending behaviour of the UK consumer. We can provide market and merchant-specific information on basket size, market penetration, customer returns, promiscuity between brands and many other unique insights, for a variety of quoted equities.
|Telephone:||+44 131 225 4157|
Medley Global Advisors
Medley Global Advisors provides policy intelligence to institutional investors globally. Our locally based analysts interact with policy makers across all layers of central banks, governments, and supranational organizations. We have three teams covering G7 macro-policy, Emerging Markets, and Energy, where we combine written analysis with regular interaction with our analysts, and macro strategists who have decades of experience working in global financial markets. By identifying upcoming policy changes that are not priced by the market, we help our clients anticipate trigger points that create market moving opportunities. We are independent, and due to our global network we have an excellent understanding of the interplay between policy makers, financial markets, and the real economy on a global scale, which is so critical in the world of investing today.
|Telephone:||+1 212 941 2700|
The Messels approach to equity research consists of the study of market price action (technical analysis). We are able to explore and visualise relative momentum and the evolution of trends in sentiment on behalf of our clients.
|Contact(s):||Tim ParkerDominic Hawker|
|Telephone:||+44 (0)1483 420 999|
Morningstar is a provider of independent equity, credit and fund investment research in Europe, North America, Australia, and Asia. Morningstar Equity Research team has the scale of a sell-side firm, both in terms of analysts (100 globally) as well as breadth of coverage (1400 companies across all sectors). Morningstar provides a unique equity research approach, with a focus on a long time horizon and aimed at identifying companies’ sustainable competitive advantages (economic moats) in order to determine the intrinsic value of a company. This approach is consistently applied across our entire coverage, and it’s proven to outperform in the long term. With this consistent focus on economic moats and intrinsic value applied across the global coverage universe, Morningstar’s equity research team offers institutional investors a truly differentiated research product.
|Contact(s):||Luigi LazziniAngus McWhinneyRalph Chalfoun|
|Telephone:||+44 (0)20 3107 0088|
MRB – The Macro Research Board
MRB - The Macro Research Board is a privately-owned independent research firm providing integrated, global, multi-asset investment strategy as well as actionable, absolute-return ideas. Our views incorporate a long-term outlook based on in-depth theme research, together with rigorous forecasting models and indicators that drive 6-12 month asset market performance. MRB’s team of analysts and strategists leverage the firm’s robust research engine and their extensive experience to ensure that investment strategy is developed and articulated in an integrated, coherent and client-friendly manner. MRB is dedicated to producing high-quality research and being responsive to the needs of our clients.
|Contact(s):||Peter Perkins, Partner, Amy Smith, Client Relations|
|Telephone:||+44 20 7073 2792|
Nau Securities Limited is authorised and regulated by the Financial Conduct Authority. We are an independent, research-led firm with a focus on companies trading on the BM&F Bovespa and other Latin American stock exchanges. Our overriding objective as a firm is to help our clients to make informed, timely and ultimately profitable investment decisions. We are passionate about discovering investment opportunities for our customers and seek to meet their varied advisory service requirements by providing fundamental investment research on Latin American firms across five areas of the market, namely:
Technology, Media & Telecommunications
We do not apply the firm’s capital to the stocks and investments that we recommend to our customers, so our success as a commercial enterprise is therefore dependent on our ability to add value to our customers through the quality of our advice and research. We believe that our customer orientated business model and the fact that our staff are shareholders, results in a natural alignment of interests with our clients; which in-turn represents the foundation of our independence as a firm.
|Contact(s):||John Nelson Ferreira|
|Telephone:||+44 20 7947 5510|
Ned Davis Research
Ned Davis Research helps investment management professionals make better decisions with unbiased, insightful and risk-appropriate quantitative indicators, strategy and analysis across asset classes. Founded in 1980 by Ned Davis, a noted market historian, NDR employs a unique 360° approach combining both fundamental and technical analysis. NDR also undertakes quantitative custom research projects for its clients. It has offices in Venice (US), Atlanta, Boston, London (UK), and San Francisco.
|Telephone:||+44 (0) 20 7779 8682|
Neudata helps investment managers discover a wide variety of alternative data sources. Our expertise lies in uncovering datasets that are not available on established platforms and that often have limited awareness beyond Neudata. Unlike data brokers, Neudata does not sell data. Instead, our interests are aligned with our clients in finding sources that are most promising for alpha generation. Neudata’s value is in providing metadata and up-to-date objective research to investment managers through our ever-expanding network of data vendor relationships. As such, Neudata’s clients are often among the first in the industry to be made aware of new data launches.
|Telephone:||+44 2036 082 162|
New Street Research
New Street Research LLP is an independent research firm, specialising in producing equity and debt research in the pan European telecom services and cable sectors and the Healthcare sector. We offer a fresh approach to research. Our work is independent and conflict free, idea driven, and firmly focused on fundamentals and valuation. We produce no maintenance research, writing only when we think we can add value. Our principal aim is to assist our clients' investment decision making process. We have no business activities that conflict with our promise of independent research.
|Telephone:||+44 20 7375 9111|
Now-Casting Economics Ltd. is a specialist economic forecasting business, publishing high frequency economic forecasting data from an automated platform. At the core of the business is an advanced statistical model, which was originally designed by two of the founders: Domenico Giannone and Lucrezia Reichlin.
The business, which started life in 2011, serves a variety of investment companies and other financial market participants around the world.
|Telephone:||+44 (0)20 7257 9590|
Omega Analysis' business is the robust engineering development of solutions to practical problems in finance backed by decades of experience in cutting edge mathematical sciences research. Our technology for risk management, trading strategy development, portfolio construction and performance analysis is based on Omega Analysis' fundamental research advances in mathematics and statistics. Omega Metrics® Market Intelligence makes Risk Cycle research available for applications ranging from early warning indicators of emerging bubbles, corrections and recoveries to trend analysis, risk management of investment portfolios and trading positions.
|Contact(s):||Dr. William F. ShadwickDr. Ana Cascon|
|Telephone:||+44 7970 938 875|
The Organisation for Industry and Economic Research
We are a group of highly technical Economists who recognise that uncertainty is a global problem that impedes growth. We partner with businesses (you) to carefully measure economic uncertainty and hence manage it, thus helping you understand the 'unknown', keeping your business growing rather than stalling. By doing this, we establish
demand and supply outlook amongst many other important aspects of business relevant information. We also provide 'what if' scenarios to understand the economic implications of Brexit. Our work takes advantage of technology developments by using behavioural Economics linked with data analytics to understand human tastes, reasons for purchase and changes in preferences, thereby getting your business ahead of the competition.
|Contact(s):||Dr. Victor Chukwuemeka|
Orlock advisors is the publisher of Russell Napier quarterly macro-economic strategy report “Solid Ground”
The Solid Ground Quarterly Strategy Report is an analysis and commentary on the key macro-economic variables which impact asset markets. The reports focus on money and credit as key drivers of asset prices and emphasize the role of financial history in understanding how these factors will impact asset prices. The large quarterly reports are completed by biweekly update on the tactical positionings. Following each report’s distribution, an opportunity is provided to all recipients to join a general conference call with Russell to discuss its contents.
|Telephone:||0131 654 9803|
Providentia Advisory Services provides specialist global tactical asset allocation (GTAA) input to institutional investors, private banks, family offices and fund of hedge funds. This service harnesses the GTAA research at Providentia Capital to assist in the process of allocating across global markets, portfolio construction and currency overlays. In addition to regular meetings for bespoke asset allocation, a suite of easy to use GTAA models is available through our secure website, so as to enable clients to determine how changing relationships between markets affects the risk and return of their portfolios. We serve a select number of clients at any time so as to provide a high level of customised service.
|Telephone:||+44 207 499 9040|
Quant Insight delivers essential investment research -- the real-time fair values and key drivers of market securities.
QI deals in facts not opinions. It answers two key questions: ‘What’s driving my trade?’ and ‘What’s priced in?’
QI identifies trading opportunities across all markets, using algorithms that incorporate all available macro information and constantly adapt to new information.
QI is a quantitative analytical framework that combines broad macro experience, rigorous data engineering, cutting edge quantitative techniques and processing power.
QI was founded by two portfolio managers with over forty years of experience in all asset classes and across investing strategies.
The quantitative techniques have been generated with the help of academics from the University of Cambridge.
• Broad cross-asset coverage – FI, FX, Equities (index and single stock), Futures, Commodities, Credit
• Covers outright, RV and derivative asset classes
• Each security has drivers that are individually selected to fully understand its trading regime
• Customizable models and delivery
• Alerts on trading opportunities and live updates through the day as markets move
|Contact(s):||Mahmood NooraniPeter TranStephen Baldwin|
|Telephone:||+44 203 865 1940|
Radios is a global provider of advanced equity valuation analytics and software for investment managers, research analysts, corporate finance and corporate development professionals. With its ValueSimulator™ software suite Radios enables investment professionals to conduct all financial analysis within a single integrated framework while using existing data feeds from ThomsonReuters, Factset and Bloomberg or proprietary excel spreadsheets. Based in London and Frankfurt a team of senior finance, equity research and information technology professionals designs state-of-the-art technologies based on an ongoing research involving leading theorists and capital markets experts.
|Telephone:||+44 207 477 2337|
Seven Days Ahead
Seven Days Ahead sells trading technical and fundamental trading information to banks, hedge funds and the wider community of expert private investors around the world. Our subscription-based publications cover all major FX markets, bonds, currencies, commodities and stock indices worldwide. Authorised and regulated by the UK's FSA we pride ourselves on independence and rigour derived from our analysts' many years trading experience.
|Telephone:||+44 784 992 2573|
Founded in 2004, Spread Research is one of Europe's Top 5 Independent Credit Research Providers (Credit Magazine Award). Covering over 200 High Yield corporate bond issuers, Spread Research’ s experienced analyst team is dedicated to providing independent credit research on European High Yield & Convertible as well as an increasing number of Emerging Market HY Corporate bond issuers (mainly sub-investment grade). Spread Research is known for producing positive results for its clients thanks to its model portfolios, investment recommendations and trade ideas. Our clients are mainly Buy-side investors based in the UK, Continental Europe and the USA.
|Telephone:||+33 478 95 36 14|
Stockcube is one of the world’s leading providers of independent financial research. Our analytical services have been used by institutional and private clients for over forty years and cover all investment classes including stocks, bonds, mutual funds, currencies and commodities. We bring together a broad range of analytical and technical disciplines. Our indicators and techniques are recognised as industry standard and used by investors across the globe.
|Telephone:||+ 44 20 7352 4001|
Storm Research began as the idea that long-term Japanese equity market experience, married to an inquisitive mind, creative energy & rigorous attention to detail, can produce thought-provoking research & outstanding performance.
We challenge our clients to think differently about companies & stocks.
We publish research that we believe in.
We expect our ideas to stand the test of time.
Welcome to our company. Please take the time to look at our website & get in touch.
We believe your fund would benefit from our ideas
|Telephone:||+44 (0) 121 288 3402|
TRACK Research is the source of independent global macroeconomic analysis and projections. It provides top-down market research, of-the-moment trading ideas, commentary on current events and trading strategies, and access to Idea Dinners and other events. TRACK is led by Robert Savage, who served as Managing Director of FX Macro Sales at Goldman Sachs, where he published widely-read and insightful research focused on the foreign exchange markets and the macroeconomic environment. As well as twenty-three years at Goldman Sachs, Mr. Savage worked as the head of New York Foreign Exchange trading for Lehman Brothers and as a Director of Proprietary Trading at Bank of America Securities. TRACK.COM research and analysis is used daily by hedge funds, proprietary trading desks, central banks and institutional asset managers to make investment decisions. Our real time research is thoughtful, well organized and right on target.
|Telephone:||+1 212 419 4255|
TRADING CENTRAL is a leading investment research provider to financial market professionals. Our technical strategies cover equity, index, fixed-income, forex and commodities markets. Our market depth and knowledge is attributed to our acquired experience on trading floors of many banking institutions. Technical analysis is our core business. Our award-winning methodology is backed by time-tested indicators. Our chartist and mathematical approaches match requirements of various investment styles, from intraday trading to swing trading and long term investments. Leading financial institutions rely upon our expertise and added value: TRADING CENTRAL currently serves most out of the 50 largest investment banks worldwide.
|Telephone:||+33 1 5528 8040|
Trusted Sources Research Partners
TS Lombard (TSL Research) has launched Trusted Sources Research Partners (“TSRP”), a new research platform giving market-leading analysts and economists the ability to write truly independent ideas-led investment research without the compromises demanded by the traditional investment banking research model.
|Telephone:||+44 (0)207 246 7831|
TS Lombard is the new research group formed through the merger of Lombard Street Research and Trusted Sources in August 2016. The merger has brought together two of the leading, and longest established, IRPs to create a unique offering combining best-in-breed macroeconomic forecasting and political and policy analysis. The group has a team of 25 analysts and strategists across offices in London, New York, Hong Kong, Beijing, Sao Paulo and New Delhi.
|Telephone:||+44 (0)207 246 7831|
Vanda is an independent research house that provides tactical macroeconomic and investment strategy analysis to institutional investors. We adopt a cross-asset, cross-geography approach to markets. Our focus lies in getting investor reaction functions right, underpinned by an empirical understanding of which factors are most predictive for returns in any asset. In addition to our core research publications, we publish a comprehensive suite of proprietary indices on Bloomberg < VAND >, including cyclical vs defensive equity ratios in the US, Europe and EM, as well as positioning indices to help with idea generation and risk management.
WaveTrack International provides concise and specific updates on market trends and measured price amplitudes throughout varying interdependent time-intervals. We specialise in using a deterministic methodology known as the Elliott Wave Principle (EWP) to assess directional price movements within the product areas of stock indices, currencies, fixed income and certain main-stream commodities. We also conduct on-demand analysis for individual equities. The predictive qualities of the EWP are combined with our proprietary ‘ratio & proportion’ studies, assessment of positive/negative correlations and cycle analysis that builds from our database of over 300 years of price history. Clients include Asset Management Corporations, Pension Funds, Total/Absolute-Return/Hedge Funds, Sovereign Wealth Funds, Corporate and Market-Making/Trading institutions and informed individuals. Our Institutional programme includes access to the EW-Forecast database with log-in/password, the monthly EW-Navigator, ‘The Week Ahead’ reports and direct connection to our analysts/strategists using the ‘Live Update Forum’.
|Contact(s):||Peter Goodburn, MSTA, CFTe – Managing Director|
|Telephone:||+49 89 210 207 10|
WhiteBox Quant is a new quantitative analysis service for portfolio managers. We are continually researching new factors – both of our own creation and the latest and greatest from academic work in quant finance – to bring you a service focused entirely on improving your stock picking performance and helping you beat the machines. We are the only sell-side quant service to bring you a Quality factor based on the source of Buffett’s Alpha. All our factors are built up from the simplest of financial metrics (EPS, Book Value, etc.) so you don’t need to learn a whole new quant language to understand our advice. There are no ‘black box’ factors as we believe that that performance comes from openness, insight and higher information level. We give you an edge by focussing our service on a limited number of clients (we don’t sell to quant funds or ETFs). We can provide quant analysis on virtually any stock in any market.
X Y and Zee
xyandZee provides independent investment research covering the global equity income sphere - dividends paid and cash spent on share buybacks - from both a top-down thematic perspective and bottom-up individual company approach. We believe that far too much attention is paid to share price movements when, over the longer-term, it has been proven that returns have been provided by dividends, dividend growth and inflation. The notion of a reinvested and compounding dividend stream seems lost to many, and that’s a real shame.
|Contact(s):||Zee Grace Tul|
|Telephone:||+44 (0) 7778 795399|
Nick Dewhirst, Founder of Investors RouteMap, passed away in July 2013. A member of Euro IRP since joining the association in September 2010, Nick was an active supporter of our work, as well as an enthusiastic champion for independent research.
Before founding Investors RouteMap in 1998 Nick spent more than a quarter of a century in the City advising European institutional investors and individuals on foreign markets. During his career he held positions at a succession of leading investment banks. His last positions, before founding Investors RouteMap, were as Head of Equity Sales, London for Dresdner Bank and European SmallCap Coordinator with Kleinwort Benson.
Nick was not only well respected but much liked, and showed his support through his engagement, enthusiasm and energy, especially when attending our Member Events and Annual General Meetings. He will continue to be missed by the association and its members. We express our deepest sympathies to his family, who continue to maintain the website and the ethos of Nick’s work.