![]() (Previous iterations of the ranking were weighted by assets under management.) ![]() This is the fourth year of the All-America Research Team survey’s commission-weighted results, which more accurately reflect how the buyside values and rewards the sell-side for their research advisory services. ![]() Evercore ISI and UBS also repeated their fourth and fifth places, respectively. The rest of the top five also remains unchanged from last year: BofA Securities took second place, while JPMorgan placed third. The firm defended its title after its rise last year from third to first place, while also adding five total team positions - including four first team spots - to bring its 2022 total to 51. 1 research provider in Institutional Investor’s 2022 All-America Research Team: Hedge Fund Cut. It appears to have been time well spent: Hedge fund managers have once again crowned Morgan Stanley as Wall Street’s No. “Our research team’s time spent with our hedge fund clients is higher this year versus last year - but importantly, that greater level of engagement has been largely consistent across our overall client base,” she said. She credits Morgan Stanley’s long-term strategic commitment to investing in its people, data, and technology platform. “And we have been growing our relationships with them accordingly,” she said. But our strategists were recommending relative value strategies across almost every asset class, which clearly plays to these clients’ strengths.”Īmong the winners of the hedge fund industry have been platform multi-strategy funds, which have seen impressive growth, Huberty said. “And when macro is the dominant driver of risk assets, it’s harder to generate alpha. “No one could ignore macro,” confirmed Katy Huberty, global director of research at Morgan Stanley. “Also critically important was the geopolitical escalation in Europe and its impact on global growth and the commodity and bond markets.”Įquity investors were “profoundly impacted” by those macro developments, he said. “The most important one is the surge of inflation and related response of central banks and bond markets,” he added. Throughout the last ten months, hedge fund managers have had to navigate high levels of volatility, as well as macroeconomic and geopolitical risks, Kolanovic said. The year 2022 has been a challenging one for most investors - “including hedge funds,” according to Marko Kolanovic, chief global market strategist and co-head of global research at JPMorgan Chase & Co.
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