UBS expands research products in Indian sector

UBS forged an alliance with Noble to expand its research products in Indian mid and small-cap stocks.

Noble is a research-led investment bank specialising in UK and Indian mid and small-cap stocks.

Under the terms of the alliance, UBS will refer international institutions seeking greater knowledge about India’s mid and small-cap sector to Noble while retaining responsibility for trading and execution.

"Research into India’s small and mid-cap companies will provide our clients with invaluable insights into potential investment opportunities," said Mark Steinert, Global Head of Equities Research.

"The alliance provides international investors with a safe, transparent, and cost-effective conduit through which to access information about the large number of stocks that sit below the top 50 companies by market capitalisation in India," said Chi-Won Yoon, Head of Asian Equities.

"What is more, it is an exclusive affiliation that not only allows UBS to provide a new dimension to its integrated offering but also helps strengthen research coverage of mid and small-caps in India," Yoon added.

Headquartered in the United Kingdom, Noble initiated research coverage of Indian companies in September 2008 and has eight Mumbai-based analysts covering 27 companies, with coverage scheduled to expand to 70 stocks by the end of 2009.

According to a UBS statement, it seeks to provide its clients with access to a wide spectrum of research. It cited as an example the purchase it made in November 2008 of a minority stake in Governance Metrics International, a leading research advisory firm which assesses corporate governance for in excess of 4,200 companies, globally.

In March 2008, UBS also purchased a minority stake in Integrity Research, a leading research advisory firm that offers access to sources of alternative research, including channel checkers, expert networks, environmental research and other non-traditional providers.