Institutional Investor

Hedge Funds Name Merrill Lynch Top Firm for Europe's Best Analysts in Alpha Magazine

    New York (ots/PRNewswire) - Merrill Lynch, which ranked third in Institutional Investor's 2005 All-Europe research team rankings, jumps to the top spot in hedge fund managers' esteem, the March/April issue of Alpha magazine reports. To obtain its rankings, Alpha retabulated the results of II's 2005 All-Europe and Emerging EMEA research teams to count only votes cast by hedge funds. Fourteen first-place squads in 13 categories differ from those that rank in the overall survey. UBS, the first-place winner in this year's overall survey, ties for second with Deutsche Bank, which also finished second in the broader ranking. Credit Suisse First Boston jumps from sixth place in the general survey to fourth, while last year's hedge fund favorite, Morgan Stanley, appears in fifth, matching its place on the All-Europe leaderboard.

    Alpha said that sell-side researchers are finding they must fine-tune their work if they hope to impress the most demanding of clients in Europe, where hedge funds are growing fast. Assets controlled by the 25 biggest European funds, as measured by Alpha, rose 44 percent during the 12 months ended September 30, 2004. "Long-only managers want the standard proactive service -- analysts making the calls," says Merrill Lynch's Simon Greenwell, head of equity research for Europe. "The hedge funds don't want that. What they do respect is for us to be very responsive to their requests."

    The leaders in Developed Europe, according to the March/April issue of Institutional Investor's Alpha Magazine:

@@start.t1@@      Rank                                                 Total team positions
      Hedge    All-                                    Hedge All-
      fund      Europe                                 fund          Europe
      2005      2005    Firm                         2005          2005
      1          3         Merrill Lynch            20            29
      2          2         Deutsche Bank            19            31
      2          1         UBS                            19            36
      4          6         Credit Suisse
                                First Boston            18            22
      5          5         Morgan Stanley          15            23
      6          4         Smith Barney
                                Citigroup                 13            27
      7          8         Goldman Sachs
                                International          12            10
      8          10        J.P. Morgan                11            7
      8          7         Lehman Brothers         11            18
      10         8         Dresdner Kleinwort
                                Wasserstein              5              10
      11         15        Enskilda Securities  2              1
      12         15        ABG Sundal Collier    1              1
      12         10        ABN Amro                    1              7
      12         -         Bear Stearns
                                International          1              0
      12         12        CA Cheuvreux              1              6
      12         15        Carnegie Investment
                                Bank                         1              1
      12         13        Cazenove(1)                1              2
      12         15        Davy                          1              1
      12         13        Exane BNP Paribas      1              2
      12         15        Nomura International 1              1
      (1) Cazenove has merged its investment banking business with
            J.P. Morgan's  U.K. investment banking operations in a joint venture
            known as J.P. Morgan Cazenove.
      The leaders in Emerging Europe, Middle East and Africa, according to the
      March/April issue of Institutional Investor's Alpha Magazine:
      Rank                                              Total team positions
      Hedge    Emerging                          Hedge    Emerging
      fund      EMEA                                 fund        EMEA
      2005      2005      Firm                    2005        2005
      1          1          UBS                      3            10
      2          5          Renaissance
                                 Capital              2            5
      3          2  Deutsche Bank              1            9@@end@@

    For more information please visit http://www.institutionalinvestor.com/alpha

    Web site: http://www.institutionalinvestor.com/alpha

ots Originaltext: Institutional Investor
Im Internet recherchierbar: http://www.presseportal.ch

Contact:
Kim Lemmonds of Institutional Investor, +1-212-224-3650,
klemmonds@institutionalinvestor.com



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