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Asian Local Currency Bond Benchmark Review

Executive Summary

The Asian Local Currency Bond Benchmark Review has been conducted annually since 2000. It provides a wealth of data on the product needs of investors and the market penetration of the banks that are active in local currency bonds. It also provides detailed analysis on the investors' buying behaviour when selecting their counterparties, giving unique access into the minds of these investors.

We cover over 300 fixed income investors across 11 Asian markets in Asia are surveyed. These markets are China, CNH, Hong Kong, India, Indonesia, Korea, Malaysia, Philippines, Singapore, Taiwan and Thailand.

The investor base is comprised of local and regional institutions including asset managers, hedge funds, and local and international banks. Insurance companies, pension funds and trusts across the Asia are also interviewed. Subscribers are given exclusive insights into their views, user profiles and buying behavior in the Asian local currency bond markets. The review is conducted during the first half of the year.

Methodology

The Asian Local Currency Bond Benchmark Review is designed to accommodate the requirements of respondents. Our questionnaire is meticulously crafted, capitalizing on a deep knowledge of the industry and close ties with the content specialists which enables us to create a high-level, relevant survey.

Our dedicated research team first reaches potential participants, walking them through the scope and purpose of the review and directs them to an online survey. Personalized follow-up calls are then made. Face-to-face interviews may also be conducted.

Because we speak directly to our respondents instead of merely passing on forms they can fill out, we provide an in-depth look into the perspective of investors that few others are capable of. Qualitative feedback and observations are transcribed and reported alongside quantitative output, giving subscribers detailed, actionable results.

Awards

Best Individuals

As part of the annual Asian Local Currency Bond Benchmark Review, Asset Benchmark Research asks more than 300 investors in the region to nominate the top sell-side individuals in research (analysts and economists/credit strategists), sales and trading. All verified nominations of sell-side individuals' are weighted and ranked accordingly. Based on number of votes received, the top 5 in each category are announced in The Asset magazine and on Theasset.com.

Astute Investors

The Best individuals, in turn, are asked to nominate their top 10 Astute Investors in terms of their knowledge of the credits/markets, acumen in making investment decisions and/or trading skill. All verified nominations of investors are weighted and ranked accordingly. Based on the number of votes received, the top-ranked Astute Investors in each country are announced in The Asset magazine and on TheAsset.com.

Top Investment Houses

Asset Benchmark Research ranks the Top investment houses in Asian Local Currency bonds based on the number of votes won by their Astute Investors. The top-ranked house has garnered the most votes for Astute Investors and so on. All votes are also subject to a weighting methodology. The top-ranked houses by country are announced in The Asset magazine and on TheAsset.com.

Top Houses in the Secondary Market

The ranking of the Top houses in the secondary market in Asian local currency bonds is determined by the market share of trades that banks capture in the aftermarket for both corporate and government bonds in each Asian country covered. The ranking is generated based on the investors' responses to these questions in the Asian Local Currency Bond Benchmark Review.

Investors' choice of Primary Issues

The Investors' choice of primary issues ranking is determined by the banks investors opt for when asked about their quality and number of corporate or government primary issues in each Asian country covered. The ranking is generated based on the investors' responses to these questions in the Asian Local Currency Bond Benchmark Review.