As investor interest waxed and waned in Latin America, the region’s corporate access providers have had to stay one step ahead of the markets.
“After a period of strong search for access to markets in Latin America, especially Brazil, due to low interest rates and abundant liquidity in 2021, at the start of 2022 we saw a different scenario, with rising interest rates, a new Covid variant and the war in Ukraine. This partly scared off investor interest in Brazil,” said Juliana Dias, head of corporate access for BTG Pactual. “But the scenario rapidly changed, since the focus shifted much more to commodities, and due to the more attractive levels of the Brazilian market.”
Due to the limitations imposed by the pandemic, Dias said BTG Pactual swiftly adapted its offering to the online world again. “We chose the best platforms and tools to offer the best experience in online events, ensuring that interactions continued to take place, and with no loss of content quality,” she said, reporting that in 2021 the firm had 40,000 interactions thanks to online events.
“These transformations enabled us to massively scale up the scope of our activities as we no longer had geographical barriers for companies, speakers, and investors, meaning we could boost attendance levels and offer each event [and] activity to all our global clients,” she added.
It seems BTG Pactual’s efforts have paid off...
To select the members for Institutional Investor’s 2022 Latin America’s Top Corporate Access Providers, we invited participants in the 2022 Latin America Research Team and 2022 Latin America Executive Team Surveys to provide feedback on the firms that provided the best corporate access across a number of attributes.
From the 2022 Latin America Research Team survey, representing the buy-side point of view, we received responses from 204 investors at 165 firms. This group rated sell-side firms on a scale from 1 to 5 for the overall corporate access they provided across six attributes: Conferences; Field Trips; Logistics; Roadshows; Team Quality; and Virtual Events. Voters were also asked to rate the sell-side firms on their corporate access within the following countries: Argentina, Brazil, Chile, Mexico, and North Andean Countries.
Each vote was weighted by the voting firm’s Latin America commission range and the rating awarded to create the rankings. Additionally, a second result was created using the assets under management, rather than commissions, as the weighting.
The Corporate Access Leaders table, based on the buy-side voter’s survey, was calculated by adding together a firm’s overall corporate access scores within each attribute to produce a table of the top ten firms.
From the 2022 Latin America Executive Team survey, representing the corporate point of view, 151 corporates ranked their top four sell-side firms on the following attributes: Investor Feedback; Investor Introductions or Ad Hoc Requests; Non-Deal Roadshows; Reverse Roadshows or Site Visits; and Virtual Conferences. Each attribute score was based on the ranking given to the firm.
The Corporate Access Leaders Table based on the corporate response was calculated by adding together a firm’s attribute scores to produce a table of the top ten firms.
The names of those surveyed are kept confidential to ensure their continuing cooperation. Voters are required to meet eligibility requirements, and all ballots are subject to review by II’s Research Operations Group. Results are also subject to inspection by an independent auditor.