SOURCE: Institutional Investor

August 26, 2010 09:01 ET

Itau Jumps to No. 1 in Institutional Investor Ranking of Brazil's Best Researchers

BTG Pactual, Credit Suisse Share Second Place in Seventh Annual Survey

NEW YORK, NY--(Marketwire - August 26, 2010) -  Volatility has returned to Brazil. Through much of last year and the first weeks of 2010, the nation's benchmark Bolsa de Valores, Mercadorias e Futuros Bovespa index seemed capable of going in only one direction -- up -- but financial crises half a world away -- in Dubai, in Greece and elsewhere -- have reminded investors that what goes up can and often does come down.

Trying to make sense of these wild gyrations has been challenging. Money managers need insight into the market's mood swings, and investors say no firm does a better job of providing the type of research they deem essential than Itaú Securities, which leads the 2010 All-Brazil Research Team, Institutional Investor's seventh annual ranking of the nation's top equity and fixed-income analysts. Itaú, which captured second place last year, wins 14 total team positions, four more than in 2009.

Two firms tie for the No. 2 spot: BTG Pactual, the outfit that was created last September when Rio de Janeiro-based asset management firm BTG Investments bought last year's top-ranked UBS Pactual, and Credit Suisse, which jumps from No. 4. The firms claim 12 team positions each, up from 11 and nine, respectively.

J.P. Morgan nearly doubles the number of its positions, from five to nine, and in so doing rises two rungs, to fourth. Rounding out the top five is BofA Merrill Lynch Global Research, which falls from No. 2; the firm wins eight positions, down from ten in 2009.

The complete list of winners can be found on our Web site, www.institutionalinvestor.com.

For more information about this ranking, please contact Alyssa Walker at awalker@iiresearchgroup.com or (212) 224-3677.

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