For over 50 years Extel (formerly known as Institutional Investor Research) has offered highly-respected proprietary benchmark research and rankings, providing independent feedback on the sell-side and corporate performance; Extel aims to be the first-choice as well as independent validation source of qualitative market intelligence for all three sides of the investment community and has a global presence spanning Europe, Emerging EMEA, Asia Pacific, North America and Latin America.
While Extel has covered Australia and New Zealand (since 1997 for Research and 2010 for Executive Teams) under its wider Asia survey, last year was the first time surveys focused on these two countries was developed. The 2025 ANZ surveys were hailed as immediate successes and a necessary move to recognize the growing influence of both domestic and international Australasian organizations within equities. Further evidence of our commitment to the region has been that Extel has recently collaborated with the Australasian Investor Relations Association (AIRA) to provide data for their awards.
The anoymized polling process ended in December 2025 and following our rigourous checking of ballots, we are excited to announce the winning companies in April and May 2026.
Key Dates (Local - AEST)
2026 ANZ Research Team - NOW LIVE: Results here and supporting article 'The Research Firms Decoding a ‘Resilient’ Australia and New Zealand' is here.
2026 ANZ Trading Team + Corporate Access Team + Sales Team - NOW LIVE with a supporting article focused on corporate access and sales 'The Corporate Access and Sales Teams Meeting the Need in Australia and New Zealand' is here.
2026 ANZ Executive Team - May 27 (07.00hrs)
2025 Research Highlights
Last year's Research results reflected the independent feedback of 336 portfolio managers and analysts at 185 firms. The surveys identified the best-in-class sell-side equities research teams offering qualitative market insights that help optimize the provision, acquisition, and consumption of research advisory services worldwide.
In 2025 UBS attained first place (19 positions), J.P. Morgan second (16 positions), Barrenjoey and Macquarie tied for third place (both 11 positions) with Citi and Morgan Stanley taking fifth (both 10 positions). The rest of the top ten sees BofA Securities take seventh (9 positions), Jefferies in eighth (7), Goldman Sachs is nineth (4), and Jarden takes tenth (2). View the Research survey press release here and the results from 2025 here.
We are extremely proud of these results. Extel surveys the majority of the most important domestic and international clients and is therefore a good lens on our market standing.Martin Yule, Director of Research for APAC, UBS.
Article from AFR covering the first dedicated ANZ Research survey from April 30, 2025.
2025 Executive Team Highlights
Last year's Executive Team results reflected the independent feedback of 253 portfolio managers, investors and analysts at 139 firms, nominating a total of 168 companies. The surveys have once again identified the best-in-class sell-side equities research teams offering qualitative market insights that help optimize the provision, acquisition, and consumption of research advisory services worldwide.
Within the survey, BHP achieved the highest overall weighted score for most honoured company, with Macquarie Group, Aristocrat Leisure and CSL tied in second place, followed by Goodman Group. CAR Group, Medibank Private, Contact Energy, AGL Energy, and Rio Tinto rounding out the top 10. View the press release for the 2025 ANZ Executive Team here and the survey results here.
