SOURCE: Institutional Investor

Institutional Investor

May 16, 2012 17:05 ET

CLSA, Morgan Stanley Are No. 1 in India Research, Institutional Investor Survey Finds

Citi Is Biggest Mover in Second-Annual All-India Research Team Ranking

NEW YORK, NY--(Marketwire - May 16, 2012) - CLSA Asia-Pacific Markets debuted in the No. 1 spot last year in Institutional Investor's inaugural All-India Research Team survey; this year it shares the winner's circle with Morgan Stanley, which vaults from No. 5. The firms each win ten total team positions -- for CLSA, that represents a loss of five from last year's total; for Morgan Stanley, a gain of two.

Complete survey results can be found at

Citi is the biggest mover among the top ten firms, jumping from No. 6 to No. 3 after adding two positions, for a total of nine.

Bank of America Merrill Lynch lands in fourth place for a second straight year, but this time it shares that spot with J.P. Morgan. These banks each claim eight positions, reflecting a loss of one for BAML and a gain of one for J.P. Morgan, which shared sixth place with Citi in 2011.

Kotak Securities and Credit Suisse, which tied for second place last year, tumble together to No. 6. Each loses three positions, leaving them with seven. Kotak, the highest-ranked India-based institution last year and this, boasts the most first-place finishes, with four; that's at least twice as many as any other firm.

These results reflect the opinions of roughly 540 analysts and portfolio managers at more than 300 buy-side institutions managing an estimated $150 billion in Indian equities.

Institutional Investor will announce the winners of its inaugural All-India Sales Team and All-India Trading Team tomorrow, May 17, on its website.

For more information contact Alyssa Walker at or (212) 224-3677.

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