25 May 2014
Equity research ‘bloodbath’ gathers pace

However, a survey of five Australian asset managers by Market Structure Partners, a strategic advisory firm, found that, on average, they only valued issuer-funded research at 1.8 points out of 10, even when no other research is available. “There is definitely a discount for the value of research where the issuer has paid for it, but it still has some value,” says Niki Beattie, chief executive of MSP.