Sell side research

Frost Consulting estimates that global research spending has fallen to $4.8bn, from the 2007 high of $8.2bn. Edison Investment Research says the number of analysts has halved, to 9,000. The buyside and the companies they follow fear reduced small- and mid-cap coverage: 84 per cent of buyside respondents to a Peel Hunt and Extel survey say UK small-cap coverage will diminish, with an impact on access to funding.