Equity Research Scheme

ASX has commenced a 12-month trial of the ASX Equity Research Scheme, an initiative to fund high-quality, independent research for ASX-listed companies with a market capitalisation below $1 billion (around 92% of all listed companies) that may not have been covered by research before.  ASX is contributing $1 million to fund the trial. 

By improving the quality and availability of research in the small to mid-cap sector, the Scheme will provide a broader range of opportunities for investors.  Over time, this will assist the investor relations activities of small to mid-cap companies and improve their ability to raise capital. 

The ASX Equity Research Scheme provides the following during the 12-month trial:

  • Company snapshot report – for companies with a market capitalisation below $50 million.  It is produced by Morningstar Australia for all eligible companies.  Each company snapshot is updated daily and includes information drawn from publicly available sources.  Reports are available on the ASX website at: www.asx.com.au/snapshot.
  • Retail report – for companies with a market capitalisation between $50 million and $200 million.  For the 12-month trial, ASX has selected 10 licensed research providers to produce three standard retail research reports with analysis and commentary on approximately 30 companies chosen by the research providers.  Reports are branded by the research providers and distributed through their existing distribution channels.
  • Institutional report – for companies with a market capitalisation between $200 million and $1 billion.  For the 12-month trial, ASX has selected 6 licensed market participants with an established institutional research function to produce three standard institutional reports with analysis and commentary on approximately 20 companies chosen by the research providers.  Reports are branded by the research providers and distributed through their existing distribution channels.

If the trial is successful, ASX will assess how the Equity Research Scheme could be expanded from July 2013.

The ASX Equity Research Scheme is part of a suite of ASX initiatives to ensure the Australian market remains globally competitive and attractive to companies and investors. 

 

View a list of companies that have a Company Snapshot   

View a list of companies and research providers for the Retail Report (PDF 61.7KB)

View a list of companies and research providers for the Institutional Report (PDF 103KB)

Equity Research Fact Sheet (PDF 130KB)