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Top 5 things for IR teams to look out for in 2018
2017 can best be described as a year when the majority of financial institutions started to come to terms with the prospect of conducting business in a radically different way due to the upcoming MiFID II regulations. The exact extent of the impact on Investor Relations teams as this plays out is not yet clear, but in this article we highlight the 5 things we believe every Investor Relations team should be prepared for as the slow burn of real change takes place throughout 2018.
New technologies in Investor Relations: Virtual Reality
The extent to which new technology will disrupt the existing ways of conducting business is something that is well covered by the mainstream media and it is clear that the pace of technological change is having a significant impact on how we perform the routine tasks in our daily life. In this paper, the first in our series examining new technologies, we will take a look at Virtual Reality (VR) technology and whether it has any applications in Investor Relations, either now or in the future.
The industry standard for managing research payments?
Q3 2017 saw something of a sea change in the stated approach of how leading global asset managers intend to manage research payments under the new regulations. The number of global firms that have publicly outlined their plans to pay for external research costs out of P&L suggests the emergence of a new industry standard. This will have important repercussions for how the whole industry manages research payments and also how the pricing of research and corporate access evolves.
MiFID II - The new reality for investor relations
A tremendous amount of work has been done on both the buy and sell side, quantifying, implementing and testing new technology and processes in an effort to comply with the MiFID II regulatory requirements. One group of MiFID II stakeholders however, still seems to have its collective head in the sand: Investor Relations (IR) Teams. In this whitepaper we examine the new reality of a post-MiFID II world for IR teams and what they need to prepare for.
Connecting with investors just got a whole lot simpler
Anyone who regularly engages with the investment community will have noticed the increasing focus asset managers are placing on organizing corporate access meetings with corporates directly. The upcoming MiFID II regulations; pressure on margins and the increasing sophistication of their own internal corporate access teams are all driving this desire to break with tradition and manage corporate access meetings in a fundamentally different way. Despite this though, we are constantly hearing the same complaint from asset managers of all sizes - difficulty in finding out when corporate management are available to meet and the best way to secure those meetings.
Extel - Greater Insights
Enhanced analytics, deeper insights, broader data, supports continued intellectual rigour in Europe’s leading equities survey of the competitive landscape.
Thoughts from the field - Investor Relations
Our goal is to consistently enhance the WeConvene platform so that it continues to help Investor Relations teams work in a fundamentally more efficient way. As part of this process we are constantly meeting with IRO’s in an attempt to get a better understanding of how they see the corporate access landscape changing and the challenges they are facing.
Pricing for meetings - the changing landscape
In June 2017, we wrote in our whitepaper Preparations for MiFID II - Are you sure this is the right way? that for the industry to move forward in terms of corporate access pricing there needed to be an open and honest conversation between the sell side and their clients around both the value and true cost of the service being provided. Our sense at the time was that the process of price discovery was still at a very early stage but just a few months on and it is clear that progress is being made and a number of firms are starting to clearly define their positions.
The rise of the buy side internal corporate access team
In much of the talk about the ramifications of MiFID II the focus has been on a likely reduction in the number of analysts employed by the sell side and a downsizing of corporate access teams. Yet, alongside the predicted restructuring on the sell side, there is an alternative employment trend that is not gaining as much attention - the rise of the buy side internal corporate access team.
WeConvene as a “CRM” for Asset Managers
One thing is becoming very clear in our discussions with large asset managers - they are increasingly focused on how they manage corporate access internally. For many years, asset managers haven’t really had to think too much about their Corporate Access process or indeed look at implementing systems that help administer it more efficiently, but this is rapidly changing.
Assessing corporate management - The view from investors
Industry surveys consistently highlight the importance that Portfolio Managers (PMs) place on meeting with company management as part of their investment process and it is also the case that for the majority of PM’s the process of attending meetings and the related preparation can in many cases consume the majority of their working hours. In this whitepaper we look at why it is that meetings are considered such a necessity and also how PMs use the meetings to assess management.
Looking at analysts outside the bulge bracket
In our previous two blog posts, we looked at both the analysts voted by investors as the best in their respective sectors and also the “rising stars” in each sector. Alongside the fact that both lists are full of analysts who provide best in class service to their clients, the other commonality is that the analysts listed are with few exceptions from a concentrated group of the largest sell side firms. In this blog post we take a slightly different approach and look at the highly ranked analysts at the more specialized firms.
Who are the analysts to watch?
In our last blog post, we wrote about how for IR teams, the number of analysts covering a company is in some respects less important than ensuring coverage from the influential analysts or to put it another way, the analysts that investors “value” enough to deem worth paying for in a post-MiFID II world. Our rationale being that the analysts most highly valued by investors are the ones that are most likely to survive the MiFID II fallout facing the industry in the next 12-18 months.
Engaging strategically with the sell side
In our conversations with Investor Relations (IR) teams, the subject of analyst coverage comes up regularly and it is clear that IR teams invest a lot of time in making sure they maintain good levels of analyst coverage. Good analysts play a valuable role in ensuring that the corporate story is well understood - so how can IR teams make sure they are aligned with the best analysts?
Why IROs should focus on strategic engagement with analysts
As the ramifications of MiFID II start to play out many, IR teams are facing a world of fewer analysts and less coverage becoming the new normal. In this environment IR teams are going to have to increasingly compete for analyst attention and in this whitepaper we look at how IR teams can adopt a more strategic approach regarding which analysts to target and also how to best manage analyst relationships.
Will MiFID II set the standard of best practice for US firms?
Whatever region you operate in, it is likely you will have heard something about MiFID II. Particularly for U.S.-based financial professionals, who are outside of MiFID II’s direct purview, there is probably a sense of relief about not being directly impacted. In this article we take a look at why even for those not immediately impacted, the new law still has some important considerations.
WeConvene Announces Update to its Corporate Access Platform
Enhancements add new functionality and streamline workflow for organizing meetings and events.
Launch of our new event creation functionality
Our event creation tool was the first part of the platform we developed (over 4 years ago now) and for obvious reasons is the most used feature on WeConvene. But as it has evolved with new functionality added, the user experience has become a little more complicated than we would like. In addition to this, our rapid growth in users (although entirely positive), has brought with it the challenge of maintaining excellent system performance - nobody likes the annoying “page loading” spinning icon.
How to get the best investor response for your event
We are often asked by Investor Relations teams how they can generate the maximum amount of investor interest in the events they launch on WeConvene. It is something we have given a lot of thought to and as many of us here at WeConvene spent the formative years of our careers as Portfolio Managers and Analysts on the buy side, it is a question we are well placed to answer.
Webinar: Manage Corporate Access directly with investors
We recently had the pleasure of hosting a webinar with US and European based Investor Relations professionals. Matt Hall our COO and Ian Hirsch our US sales director ran through how we see the Investor Relations landscape changing over the next 12-18 months, the core WeConvene IR functionality and also how you can use WeConvene to connect with 150,000 global buy side investors through our integration with Bloomberg EVTS GO.
Preparations for MiFID II: Are you sure this is the right way?
With only six months until the MiFID II regulations come into effect, almost the whole industry has woken up to the fact that they will need to have a system in place to comply. In this whitepaper we examine whether the tracking and reporting solutions being implemented by firms as a way to ensure compliance are the best long-term solution for the buy side and if not, what an alternative might look like.
Notes from NIRI 2017
For the launch of WeConvene IR at the NIRI Annual conference - Orlando did not disappoint. Admittedly, the almost constant threat of rain meant we hardly stepped outside of the JW Marriott but this just kept us even more focused on enjoying the strong program of speakers.
The Extel 2017 Results
Extel, the leading source of Pan-European opinions amongst the investment community today announced the results of the 44th annual Extel survey. The pan-European survey highlights achievement across the buy-side, sell-side and corporate communities.
WeConvene launches Investor Relations workflow
WeConvene, the provider of a global, web-based corporate access management platform, has announced a major enhancement with the release of WeConvene IR.
MiFID II and the impact on investor relations
With all the talk on MiFID II, there has been little in-depth focus on how the Investor Relations function will be impacted because much of the detail is focused on the technical elements of trading, price discovery, reporting and transparency.
Extel 2017: Increasing focus on advisory performance.
Extel 2017 voting officially closed at midnight on Friday, 28th April 2017. This year, participation reached record levels, with a double-digit increase across all three sides of the investment community.
Corporate Access: Tackling the upcoming MiFID II regulations
WeConvene releases white paper for investment professionals discussing the role of technology in addressing MiFID II regulation for corporate access.
WeConvene launches new tools for Analysts
New features extend WeConvene’s MiFID II functionality to help research analysts manage, promote and monetize their availability to the world’s largest buy side audience
WeConvene completes $12.5 million Series B round
WeConvene today announced that new and existing investors have joined the company's $12.5 million series B funding round. The venture firm and round leader was the CreditEase Fintech Investment Fund, along with other investors: Wonderful Sky Financial Group (1260 HK) and OSK Ventures International Berhad (0053 KL), which are also taking part in WeConvene's first institutional round.
Corporate Access: Tackling the upcoming MiFID II regulations
Despite the technical requirements for MiFID II compliance in areas like trade reporting being extraordinarily detailed, the way traditional corporate access will be treated is still open to debate and in particular how much of it will qualify as “research” under new guidelines. In the second of our series of papers on MiFID II we will look at MiFID II specifically in the context of Corporate Access and examine how technology can help in addressing the regulation for those in the corporate access space.
MiFID II: What is it and who does it impact?
The January 2018 deadline for compliance with MiFID II is rapidly approaching and for many in the global investment services industry, it is crunch time in terms of understanding and preparing for one of the most comprehensive regulatory overlays since the 2008 global financial crisis. In the first of our series of papers on MiFID II we will look at what MiFID II actually is, the goals of the regulations and who they impact.
2017 Extel Survey dates and new management
The Extel Survey, Europe's Largest and Most Comprehensive Evaluation of Buy-Side, Sell-Side and IR Teams, will Launch on 22nd March 2017; WeConvene Extel is Pleased to Announce that Experienced Sell-Side Professional, David Enticknap, Joins as MD of Extel
Bloomberg and WeConvene announce partnership
Today, Bloomberg and WeConvene announced plans to centralize corporate access events on the Bloomberg Professional service. By partnering with WeConvene, a provider of web-based tools that streamline the corporate access process for the global investment community, Bloomberg will distribute events on a permissioned basis to its network of investment professionals.
One-on-one investor meetings: Best practices for IRO's.
According to industry research, over the past few years the market has seen various trends impact the way in which companies conduct one-on-one meetings with the buy side. In this whitepaper we will cover why companies are increasingly scrutinizing their investment in investor outreach and the best practices IRO’s can follow when organizing one-on-ones.