Asiamoney Brokers Poll 2020 Methodology

Asiamoney’s 31^st annual Brokers Poll runs from 1 June to 7 August. We invite senior institutional investors from around the world to assess their sell-side banks and brokerage firms for Asian equities.

The detailed results will be published in December (issue four); full and bespoke data is available for purchase from November.

METHODOLOGY & CATEGORIES:

The poll covers the following sections:

1)  REGIONAL (ASIA EX-AUSTRALIA & JAPAN) SECTION

To qualify for the regional categories, participating firms, analysts and sales personnel need to service three or more countries/independent markets. For the purpose of this poll, Hong Kong is considered an extension of the mainland China market. For example, for Chinese brokers and their staff to be considered regional, they must service two additional markets beyond mainland China and Hong Kong.

Regional Equity Sales

• Best overall regional brokerages for sales services

• Best regional sales people

• Best regional sales traders

• Best regional brokerages for execution

Regional Equity Research

The sectors covered are those most widely invested in – please refer to the below classifications for industry definitions.

• Strategist

• Economist

• Quantitative / technical

• Automobiles & components

• Banks

• Casinos & gaming

• Consumer discretionary

• Consumer staples

• Diversified financials

• Energy

• Healthcare

• Industrial (i.e. conglomerates/capital goods)

• Insurance

• Materials

• Real estate

• Semiconductors & semiconductor equipment

• Software, Internet & service

• Technology hardware & equipment

• Telecommunication services

• Transportation

• Utilities

2)  HEDGE FUND SECTION

• Best for overall services in hedge fund

3)  PRIME BROKING SECTION

• Best for overall services in prime broking

4)  COUNTRY/MARKET SECTION

Australia, Bangladesh, China (A&B shares), China (H-shares, Red chips, P-chips), Hong Kong, India, Indonesia, Japan, Korea, Malaysia, Pakistan, Philippines, Singapore, Sri Lanka, Taiwan, Thailand, Vietnam

Overall

• Best local brokerage

Equity Sales

• Best brokerage for sales trading

• Best execution

• Best overall sales service

• Best sales persons

• Best sales traders

Corporate Access

• Best for corporate access

Equity Research

• Best overall research

• Best analyst per sector in the most frequently traded industries in that market

• Best analyst for small/mid-caps

• Best strategist

• Best economist

5)  CALCULATION OF RESULTS

Points for place

For all categories, a first place vote rewards three points; second place two points and third place one point.

“One firm – one vote”

To avoid any one institution having more influence than others of equal size, multiple responses are fractioned according to the total number received from that one institution.

Asset size weightings

Each response is weighted according to the institution’s approximate asset size (total unleveraged Asian equity funds under management) in Asia-Pacific. Hedge fund firms will be weighted at six times their assets to reflect their higher turnover rate. The following table details the weightings according to asset size:

Rankings for overall combined regional research & sales, overall regional research, and overall regional sales

For the Asia (ex-Australia & Japan) rankings a domestic market weighting system is used to compare brokerages as a whole in the region. The rationale is that the importance of markets varies across the region, so the points a brokerage receives in major markets should be weighted more than the points it receives in smaller markets. The MSCI AC Asia ex-Japan index (as of April 2020) was used as a guide to achieve this. A similar sector weighting system is used to address the importance of the sectors within the region. Please refer to the following tables for a mathematical breakdown:

The scores for Australia, China (A&B share) and Japan Overall Combined Research & Sales are calculated by simply adding together the scores from the categories of Best Overall Research and Best Overall Sales Service in each of their respective domestic markets.

Research sector classifications:

6)  VERIFICATION & AUDITING

Several working days after completing the poll, some respondents may receive a validation email from Asiamoney. Respondents are required to click on a validation link in this email to confirm their vote. Failing to do so may lead to their votes being nullified. If a respondent doesn't validate their vote by e-mail, Asiamoney will follow up and attempt to verify by other means.

Asiamoney will investigate and audit individual responses; responses suspected of being fraudulent will be nullified and violating parties will be prohibited from participating in future Asiamoney Polls.

Please direct inquiries to Harris Fan by e-mail at harris.fan@asiamoney.com or by telephone at +852 2912 8037.

This Disclaimer is in addition to our Terms and Conditions as available on our website and shall not supersede or otherwise affect those Terms and Conditions.

This poll is not based on scientific or representative samples. As set out in our Methodology, The results of the poll and other related information have been obtained from various opinion-based sources and have not been independently or professionally verified. The results of the poll are therefore statements of opinion of participants of the poll as of the date of participation and not statements of fact.

The information in this poll is provided on an “as is” basis. Your use or reliance on such information, including the results of the poll, is therefore at your sole risk. Neither we, nor any of our providers of information, make any representations or warranties, express or implied as to the accuracy, content, currentness, timeliness, reliability, completeness or fitness for a particular purpose of any information published in this poll. Neither our company, nor any of our officers, employees or representatives shall be liable to any person for any losses or damages incurred, suffered or arising as a result of use or reliance on the results or other information contained in this poll, howsoever arising, including but not limited to any direct, indirect, consequential, punitive, incidental, special or similar damage, losses or expenses.

We are not an investment advisor, a financial advisor or a securities broker. The information published has been prepared solely for informational and educational purposes and is not intended for trading purposes or to address your particular requirements. Such information is intended to be available for your general information and is not intended to be relied upon by users in making (or refraining from making) any specific investment or other decisions.