Research

Our research methodology across construction, development, property services and the wider supply chain adopts a whole-of-industry approach, designed to capture the interrelationships between each segment of the industry.

We analyse residential, public, commercial, industrial and logistics end-markets across both new-build and repair, maintenance and improvement activity. Our work incorporates a detailed assessment of the macroeconomic, political and regulatory forces shaping sector outcomes.

To provide differentiated insight, we undertake fundamental quantitative research into how government policy affects the sector. This includes bespoke analysis of how the Affordable Homes Programme will shape social housing and how vertical integration strategies within housebuilding can benefit margins.

We provide coverage across non-residential construction, business services, outsourcing, recruitment, professional services and a range of related sectors.

We seek to add value for clients through deep domain expertise, industry contacts and the considered use of third-party data.

Our detailed company models help us develop meaningful insights into the businesses within our coverage. Twice a year, we produce a sector book with broad appeal among fund managers, companies and other industry participants, including private equity investors.

Research across consumer, retail and leisure-facing businesses, focused on brand strength, pricing, volume trends, channel strategy and changing customer behaviour.

We analyse margin development, promotional intensity, management execution and market positioning to understand how companies respond to pressure on spending and confidence.

That gives clients a clearer view of earnings durability, recovery potential and the operational choices driving sentiment across the sector.

Our European macroeconomic research is recognised by clients as market-leading. Combining deep experience of policymaking and financial markets, Simon provides independent analysis of the latest economic trends.

Data-led economic analysis helps clients navigate an increasingly disrupted economic backdrop.

Our Financials and Insurance Equity Research team provides coverage of more than 35 stocks across asset and wealth managers, insurance companies and specialist lenders.

Operating as an integrated team, we draw on read-across between subsectors to generate differentiated insights, combining individual company research with macroeconomic commentary and regulatory analysis.

Our coverage ranges from small and mid-cap companies to large FTSE 100 firms, giving institutional investors a comprehensive view of the UK financials landscape.

Research across fintech, payments, digital assets and financial infrastructure, focused on business models, regulation, adoption, scalability and market structure.

We assess how technology is reshaping financial services, from listed fintech platforms and specialist lenders to digital asset infrastructure and emerging forms of capital markets activity.

That helps clients understand where innovation is creating durable value, where expectations have moved too far, and how regulatory change may shape future growth.

We provide all-cap research across UK healthcare and life sciences, including healthcare services, medtech, biotech, diagnostics and animal health.

Our view is informed by operational experience, supported by detailed modelling, scientific understanding and company dialogue. This allows us to provide considered opinions on the balance of risk and reward across clinical, commercial and financial factors.

Regular commentary highlights broad sector trends alongside themes with company-specific implications.

We provide research across industrials, engineering, manufacturing and related technology businesses, focusing on demand cycles, order books, margin quality and operational execution. Our company research is supplemented by our proprietary Early Cycle Indicator.

We assess how companies manage cost pressures, capacity, end-market exposure and investment while protecting productivity and long-term competitiveness.

This gives clients a grounded view of earnings quality, cyclicality and where the market may be underestimating or overestimating change, creating potential opportunities.

Alternatives:  Our alternatives coverage spans a wide range of asset classes across the investment company sector, including infrastructure, renewables, private equity, and specialist credit. We are highly focused on underlying valuations, applying a deep-dive approach to generate original insights. By integrating OpCo-style frameworks, we aim to make equity stories accessible to a wider range of investors.

Equities: We cover global equity mandates, covering generalists and specialists. We emphasise understanding the drivers of returns, the structural outlook and the market cycle; we do not simply look at trailing returns, but instead look at areas of value-add/detraction and of opportunity/risk, offering investors a full picture of the investment outlook.

We provide research across leisure, hospitality, travel and experience-led businesses through the lens of changing consumer behaviour, macroeconomic conditions, brand relevance, pricing dynamics and regulation.

We examine like-for-like trends, operational gearing, estate strategy and management execution to assess which operators are best placed to generate sustainable returns.

This helps clients distinguish structural winners from cyclical beneficiaries and identify mispriced opportunities.

Media is a fast-moving, dynamic and innovative sector. Our coverage includes a range of digital services as well as physical products, including high-value events and publishing, across both B2B and B2C markets.

The sector is built around high-value content, brands and intellectual property, with a range of monetisation models including subscriptions, advertising, fees and product or service sales.

We seek to understand the fundamental value and outlook for each product or service, taking into account potential disruption from new entrants and emerging offerings. This enables us to identify the strengths and weaknesses of a company and place its valuation in context.

Research across listed property owners, REITs, developers and housebuilders, focused on asset quality, leasing dynamics, capital intensity and balance sheet discipline.

We analyse asset mix, financing structure, rental resilience, valuation sensitivity and management strategy to assess income durability and asset backing.

That perspective is especially important when rates, sentiment, development risk and transaction markets are moving quickly.

We provide research across mining, energy and natural resources, focusing on commodity exposure, cost curves, project quality, balance sheet strength and capital discipline.

We weigh macroeconomic inputs against operational realities to understand how companies are positioned through price cycles, investment phases and changing policy environments.

The goal is to help clients assess where operational execution and financial discipline matter as much as the commodity backdrop.

We combine rigorous quantitative analysis with evidence-based macroeconomic research to assess opportunities and risks across UK and European markets.

Our research focuses on the thematic trends driving returns across sectors and styles. With a recommendation hit rate of more than 60% over the past five years, investors can draw on a strong track record.

Having written two books on geopolitics for investors, Joachim is a trusted resource for clients seeking to understand geopolitical developments and their potential impact on stock markets.

We provide research across technology, including software and IT services, semiconductors and IT hardware, focusing on growth quality, scalability and competitive advantage.

We assess market-share dynamics, competitive moats, recurring revenue, customer demand, product differentiation, margin progression and capital allocation to determine where growth is durable. In our view, market share is a key driver of alpha.

This helps clients distinguish structural winners from businesses where expectations, execution risk or valuation may have moved ahead of fundamentals.

We have extensive experience across the full range of transport subsectors, spanning airlines, aviation, public transport, shipping, post and logistics, as well as transport-related services and infrastructure.

We take a long-term view, focusing on fundamentals and value creation rather than only earnings revisions for the current quarter or year. This perspective draws on nearly 30 years of experience following the transport industry.