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UBS enhances coverage of Indian mid and small-cap sectors through strategic alliance with Noble
In line with its continued commitment to enhance the breadth and depth of its equity research offering, UBS today entered into a strategic alliance with Noble, a research-led investment bank specializes in UK and Indian mid- and small-cap stocks.
"Our strategic alliance with Noble expands our research product and offers clients an in-depth understanding of a broader universe of stocks. 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.
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.
Under the terms of the alliance UBS will refer international institutions seeking greater knowledge about the country's mid and small- cap sector to Noble while retaining responsibility for trading and execution.
"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 capitalization in India.
"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," said Chi-Won YOON, Head of Asian Equities.
UBS seeks to provide its clients with access to a wide spectrum of research. For example, in November 2008, it purchased 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 addition, in March 2008, UBS 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.