| Davy wins as quality of research is still key |
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| For the third year in a row, the FINANCE Stockbroking Survey shows that, for fund managers, the quality of equity research is the main factor they consider in choosing a stockbroker. Davy Stockbrokers has won out as providing the best research, but Goodbody's analysts dominate. |
QQuality of equity research remains the primary dictator of fund managers’ choice of stockbrokers, according to this year’s FINANCE Stockbroking Survey, with Davy Stockbrokers emerging as the firm most investors see as offering the best research. Davy won back its crown from Goodbody, which was voted best equity research provider last year.
This is the second year in a row that research quality has been deemed of most importance by fund managers, with execution/ability to deal in size the next most important factor. The objectivity of the research provided has slipped to third place on the list of key determinants in choosing a broker, suggesting perhaps that measures to guard against any conflict of interest on the part of analysts are now seen to be working.
Although Davy won as provider of the best research, and indeed, clearly emerged as the team to beat, taking 15 titles compared to its nearest rival, Goodbody’s 11, Goodbody still swept the boards in the ‘Best Analyst’ categories. This suggests that while Davy’s research teams are seen as top notch, fund managers believe the performance of some of Goodbody’s individual analysts are the best in the market.
Goodbody’s Neil Clifford took the top spot in the ‘Best Hotels and Leisure Analyst’ category, while also retaining his number one position in the ‘Best Media Analyst’ sector. He also won out in the ‘Best Mid-cap Industrials Analyst’ section. Taking his tally to four, he was also deemed ‘Best Telecoms Analyst’. His colleague, Joe Gill, was voted ‘Best Airlines Analyst’. Robert Eason, also of Goodbody, retained his number one spot in the ‘Best Building Materials Analyst’ category. Ian Hunter, also with Goodbody, was once again voted the ‘Best Pharmaceuticals and Biotechnology Analyst’. Capping off a fantastic performance for
Goodbody, Gerry Hennigan retained his title as ‘Best Technology Analyst’.
However, despite Goodbody’s dominance, investors still voted Davy’s Robbie Kelleher the ‘Best equity strategist’. Kelleher took the crown from regular winner Bernard McAlinden of NCB, who slipped to fourth place.
Merrion had a great performance in the survey, with Seamus Murphy holding onto his title of ‘Best financials analyst’ as well as taking the coveted ‘Analyst of the Year’ award for the first time. Also for the first time, Adrian O’Carroll won the ‘Best equity salesperson’ award.
NCB dominated in the ‘Best international equity research (excluding Irish equities)’, and John Sheehan narrowly missed out winning the ‘Best mid-cap industrials’ title.
For the full survey please see the print issue - to subscribe go to this link: http://www.finance-magazine.com/order_sub_step1.php |
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| Article appeared in the December 2004 issue.
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