SOURCE: Institutional Investor

Institutional Investor

August 31, 2011 08:01 ET

J.P. Morgan Is Leader in Latin American Equity Research, Institutional Investor Survey Finds

Santander Leaps Into the Top Five on Latin America Research Team

NEW YORK, NY--(Marketwire - Aug 31, 2011) - J.P. Morgan provides the best coverage of Latin American equities, according to portfolio managers and buy-side analysts who participated in the 2011 Latin America Research Team survey, Institutional Investor's annual ranking of the region's best sell-side analysts.

Complete survey results can be found at www.institutionalinvestor.com.

In its third consecutive appearance at No. 1, J.P. Morgan captures 17 positions in the survey, three more than last year and two more than the two banks that tie for second place: BofA Merrill Lynch Global Research, which slips one notch, and Morgan Stanley, which climbs one rung.

The survey's biggest gainer is Santander, which leaps from seventh place to fourth after picking up five positions, for a total of 13. Itaú BBA rounds out the top five, with 12 positions.

Results are based on responses from 660 analysts and money managers at some 360 firms that manage an estimated $457 billion in Latin American equities -- roughly 52 percent of the MSCI emerging-markets Latin America index market capitalization of $874 billion at the time of the polling -- and $154 billion in Latin American debt.

Latin American markets have seen their fair share of turbulence over the past year, thanks to investor concerns that government efforts to control inflation would inhibit real gross domestic product growth, worries that an economic slowdown in China would decrease demand for the region's exports, fears that sovereign-debt crises in Europe would spread and, of course, Standard & Poor's downgrade of the U.S.'s credit rating.

"The combined impact of renewed concerns on economic growth in the U.S. and the sovereign outlook in Europe has certainly affected Latin American equity markets," observes Ben Laidler, J.P. Morgan's New York-based head of Latin American research and strategy. "Ultimately, however, Latin American economies are in a strong relative position, with few of the fiscal, debt and growth concerns constraining developed economies."

For more information contact Alyssa Walker at awalker@iiresearchgroup.com or (212) 224-3677.

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