Results from the 40th annual Extel Survey carried out by Thomson Reuters were announced in a ceremony at London’s Guildhall on June 10.
The survey found that access to company management is still a top priority for investors. Steve Kelly, managing director of Extel at Thomson Reuters, added in the press release that even during such ‘challenging times, direct client service, and a strong business proposition are truly valued and recognized’.
This is evidenced by the amount of money still being spent by fund managers in gaining access to chief executives of corporations. Although contrary to FSA regulations, the research indicated that a quarter of client commissions is paid to brokers offering corporate access. Speaking to the Financial Times, Kelly highlighted the ‘fundamental contradiction’ between what is valued by asset managers and the FSA rules.
Social media was a hot topic in the survey, with many showing interest; in practice, however, there is less clarity about its role in investment decision making.
This year, German insurer Allianz was voted the leading pan-European quoted company for IR, snatching the title from 2012 winner Sanofi, with the French pharmaceutical major dropping to third place.
The award for leading UK company for IR went to Vodafone, which also proved its prowess in the pan-European market, coming second to Allianz.
Christian Becker-Hussong took the title of leading pan-European investor relations professional, following in the footsteps of previous German winner Oliver Schmidt of Allianz (2011 and 2012).
In an interview with Thomson Reuters, Becker-Hussong cited the company’s US shareholder base as one of the key reasons for its success. He also noted that the biggest challenge for IR teams remains the ability ‘to build relationships with investors and analysts beyond numbers, and to be trustworthy, reliable and transparent’.
Over 15,000 participants from over 6,000 firms took part in the survey, casting their views on IR teams as well as on brokers, equity firms and hedge funds.
