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Asia (ex-Japan) Research Providers

Ranking Overview Methodology

As China continued to lag over the last year, investors have expanded their view in Asia.

“The most important structural development in the last year has been the development of pan-Asia investing,” according to Magdalena Stoklosa, director of Asia Research at Morgan Stanley. “Investors who previously had a narrower focus, for example on Greater China, have widened their mandates to include Japan and India, as well as Asean in some cases.”

Coming into the year, Morgan Stanley’s view was that Asia’s growth cycle was asynchronous and that domestic demand in select economies with structural stories—such as India, Japan and Indonesia—would be the key support to growth, according to Stoklosa. But in recent months recovery around trade has been better than expected. “External demand will now complement domestic demand and lift the trade‐dependent economies—Korea, Taiwan, Malaysia, Singapore and Hong Kong too,” she added. “We are taking on a more constructive growth outlook, as we see more economies in the region posting healthy growth trends.”

To select the members of our 31st annual All-Asia Research Team, Institutional Investor solicited the opinions of portfolio managers and analysts at institutions with major securities holdings in Asia (ex-Japan). This year the research results were produced with the responses from firms paying at least $1million in Asia (ex-Japan) commissions. Votes from nearly 3,300 voters at more than 400 firms were incorporated for the ranking.

Participants first rated their top firms in each sector on a scale from 1-5, and then separately rated individual analysts or economists/strategists at those firms to create results for each sector. A numerical score was produced by weighting each vote based on both the respondent’s Asia ex-Japan equity commissions and their average rating.    

Using those scores, ranks were then determined. Firms/analysts were designated runners‐up when their scores came within 35 percent of the third-place scores.     

The individuals surveyed are kept confidential to ensure continuing cooperation. Voters must meet eligibility requirements, and winners must achieve a minimum vote count.  

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