Top Performer Awards 2014 – North American results12th March 2014
LONDON, 12th March 2014 – TIM Group has announced the North America results of the TIM Ideas Top Performer Awards 2014, identifying the best institutional equity salespeople and their brokerage firms in the region, during 2013.
The TIM Ideas Top Performer Awards, are now in their third year and are the only quantitative rankings of equity salespeople. The awards recognize consistent outperformance and are based on the alpha, or outperformance versus relative indexes, of stock trading ideas authored by equity salespeople and sent to their buy-side clients.
Trade ideas are specific, actionable recommendations, typically based on in-house sell-side research combined with an understanding of market dynamics and timing by the salesperson.
- Top bulge bracket brokerage firm: UBS Investment Bank
- Top mid-size and boutique firm: Piper Jaffray
- Top salesperson: Chung Kim, CIBC World Markets
The top three bulge bracket brokerages with the best overall idea performance
|1||UBS Investment Bank|
The top ten mid-size and boutique brokerages with the best overall idea performance
|2||Dougherty & Co|
|5||Cowen and Company|
|9||Renaissance Macro Research|
|10||Feltl and Company|
The top ten salespeople with the best overall idea performance
|1||Chung Kim||CIBC World Markets|
|2||Jason Melbourne||Canaccord Genuity|
|3||Paul Edwards||Piper Jaffray|
|4||Jeff Shanta||Cormark Securities|
|5||Jim Klepper||Stephens Inc|
|7||Kevin Williams||Cormark Securities|
|8||Jon Moscou||Miller Tabak|
|9||Tyson Ester||JMP Securities|
|10||Pascal Besman||JMP Securities|
The top performing brokerages in each of ten sector specialties
|Basic Materials||Northcoast Research|
|Consumer Cyclicals||Northcoast Research|
|Consumer Non-Cyclicals||Credit Suisse|
|Financials||Renaissance Macro Research|
|Healthcare||Dougherty & Co|
|Technology||Dougherty & Co|
|Telecommunications||UBS Investment Bank|
|Utilities||Scotia Capital Inc|
Our Top Performer Awards are based on an analysis of the alpha generating performance of almost a million long and short equity trading ideas sent to clients in 2013 via the TIM Ideas Equities platform.
Performance is measured by the average relative return, per idea, from the time it was initiated to the time it was closed, versus the performance of the relevant regional or sector benchmarks, during that same period.
For the regional awards these benchmarks are S&P 500 for North America, STOXX 600 for Europe, MSCI AC for Asia (ex Japan), TOPIX for Japan and ASX300 for Australia and New Zealand. For the sector awards we use the relevant MSCI sector benchmarks.
ETFs or index ideas are excluded.
We ignore investment amounts and calculate an idea’s performance as the percentage difference between close price and dividend-adjusted open price.
Average return over all ideas is combined with a scaling factor which rewards individuals or firms who perform consistently well and have entered a relatively high number of ideas.
In order to qualify for a top performing sales person award in 2013, an individual contributor must have sent at least five ideas in each quarter and have a positive average relative return.
For a firm to be eligible for the top performing brokerage rankings, there must have been at least five contributors who qualify for the salesperson award at that firm.
For the sector awards there must have been at least one qualifying contributor at the firm. The level of required contribution was dependent on the sector. Where these criteria returned empty positions, we reserved the right to include authors with lower levels of activity.
We only ran sector awards for the North America and Europe regions.
Salespeople and brokerages were only eligible to be ranked in any category if they agreed to participate in the awards and accepted the publicity associated with their publication.
TIM Group regards the following firms as ‘bulge-bracket brokerages’:
- Bank of America Merrill Lynch
- Barclays Capital Citigroup
- Credit Suisse
- Deutsche Bank
- Goldman Sachs
- J.P. Morgan
- Morgan Stanley
- UBS Securities
TIM Group considers that all brokerages outside of the above are ‘mid-size or boutique brokerages’.
About TIM Group
TIM Group (www.timgroup.com) operates the world’s leading alpha capture platform and network. Our TIM Ideas software and services help investors achieve market-beating returns by filtering and evaluating brokers’ trade ideas and presenting them to institutional investors in a structured, efficient and transparent format.
Our network serves 4000 sell-side brokers, from 300 brokerage firms and 350 buy-side firms. We are committed to continually building a community and developing products that serve financial professionals across the globe. We have four offices on three continents and clients in 40 countries.
TIM Group is a private limited company, founded in 2002. It is employee owned with outside venture capital investors that include Commonwealth Capital Ventures of Boston, GrandBanks Capital of Boston, and Relay Ventures of Toronto.