GLOBAL - The Enhanced Analytics Initiative (EAI) expects to achieve its aims and disband "in the next two or three years", said chairperson David Blood.
“The EAI wants to raise awareness, see the quality of research improved and then disband,” said Blood. “And in two to three years, we expect to achieve that, although it could take a little more or less time. We were never looking to be a permanent group.”
Blood made the statements as the EAI announced its latest evaluation of investment research, which found ongoing improvement in the quality, diversity and coverage of extra-financial research.
The EAI highlighted Deutsche Bank, Goldman Sachs, UBS and Morgan Stanley as the best analysis providers in the last half-year.
Blood claimed the EAI had achieved notable expansion in recent months – particularly in the US - as the research community had embraced the initiative.
“They recognise there has been too much emphasis on short-term quarterly driven research, which does not add value,” said Blood. “Some of the biggest and most important investors in the world are getting on board with this.”
Despite the gains made, he insisted far more needed to be done. “We would like to see investors taking the more difficult steps… looking at things like ethics and misselling. These things have a significant impact, yet very little research has been done into it.”
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