Fund management groups are strongly disapproving of analyst involvement in investment banking, according to the 2001 Reuters Survey of European Smaller Companies for investment research, sales and trading and investment banking.
The study noted that fund management groups have voiced their most negative view yet of analysts’ involvement in investment banking work – some 87% say that analysts’ involvement in corporate work dilutes their institutional work.
High levels of satisfactory contact and coverage at the equity research level do not extend to the quoted companies’ relationships with sell-side firms’ investment banking departments, the survey adds. Only 55% of companies say that they have had contact with investment bankers over the past year.
The survey is based on the participation of 382 companies or 61% of the $504bn equity market value of the 700 smaller companies in continental Europe.
The survey also ranked Fidelity Investments as best fund management group.
By Janet Du Chenne
The directors of collapsed construction giant Carillion were "contemptuous" of funding their defined benefit (DB) pension schemes, and "refused to give an inch", Frank Field has alleged.
The PPF 7800 deficit was slashed in half last month as gilt yields rose. Victoria Ticha asks if this is the start of a longer trend
Frank Field is to warn Sir Philip Green not to sell his Arcadia business without ensuring defined benefit (DB) pensions are adequately protected, PP can confirm.
Some 79% of people would like to see stricter rules and checks to ensure pension pots are secure, according to a survey by the Pensions and Lifetime Savings Association (PLSA).