3 June 2024

Investor Targeting and RORI Analysis


SALONI SURI, Shareholder Analytics and Investor Relations


An important task within a company’s Investor Relations function is identifying new investors who could become potential shareholders. An analysis of a company’s share register will give an Investor Relations Officer, (IRO), a good snapshot of who their current shareholders are at a single point in time but the composition of a share register is continually evolving. Good IRO’s are constantly seeking to engage with potential new investors to help bring them up to speed on the company. Only a small proportion, however, of the hundreds of thousands of funds will have the right profile and investment style to match the investment proposition being promoted by a particular IRO, meaning effective investor targeting matters.

AccessIR

FIRST Advisers has a number of tools and the expertise to help IROs generate the best return from investor targeting. At the heart of our Investor Targeting offer is AccessIR, our proprietary, leading edge IR platform. IROs can use the powerful, global database that underpins AccessIR to conduct desktop targeting to identify the right fund managers, in the right regions with the right investment styles generating a shortlist of potential investors. This list can then be refined further through research and direct email with the fund managers. By providing IROs with the ability to interrogate AccessIR, FIRST Advisers helps save time and money by avoiding the pursuit of fund managers that are not a good fit and wasting time on meetings that will not be productive.

RORI analysis

AccessIR is also integral to FIRST Advisers’ Register of Relevant Interests (RORI) analysis work that provides valuable intelligence on peer company beneficial owners that can significantly improve the effectiveness of investor targeting. A RORI is a compilation of all disclosures made by registered shareholders or nominees in response to disclosure requests issued by a company or its agent. On the face of it, these disclosure notices can be hard to understand, dense and difficult to extract insights from. FIRST Advisers’ experienced investor analytics team uses the AccessIR platform to capture and process the disclosure notice data, which is then analysed to build a comprehensive, validated list of new investor targets for IROs to approach.

The FIRST Advisers analysts conduct RORI analysis on a regular basis as part of ongoing investor relations work and during transactions. We can identify institutions that invest in a company’s peers or sector, both domestic and offshore. The target investor report is available via AccessIR and populated with high quality targets that have already identified their interest in a sector through their investment in a peer company. Analysis of peer group RORIs offers highly effective investor targeting that can help with discovering institutions or funds that do not appear in commonly used data sourced from public filings, which are typically out of date by a minimum of 3-6 months. The resulting information is significantly more accurate and comprehensive and can be utilised to refine investor relations and capital market strategies.

Doing investor targeting the right way, from the start, not only improves the productivity of the investor relations team but also avoids the risk of alienating potential investors by making your pitch to the wrong people.


31 January 2024

Maximising access to the capital markets


VICTORIA GEDDES, Investor Relations It is hard to find consensus on to what extent the Australian capital markets will be open for IPOs and secondary raisings in 2024. There does, however, seem to be a view that there are likely to be positive factors that will help to mitigate the uncertainty that stymied access to […]

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29 June 2022

Evaluating Your IR Program


ROWAN CLARKE, Investor Relations As we enter a new financial year, it is worth reflecting on the effectiveness of your Company’s IR program. This was a topic at the 2022 National Investor Relations Institute’s (NIRI) Conference held in Boston. FIRST Advisers attended the conference in June and we summarise some of the key recommendations. Recommendation […]

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30 May 2022

Custodians on the share register


SALONI SURI, Shareholder Analytics In a previous blog, we talked about the structure of the share register. Common accounts on a share register include Retail Investors, Company Directors and Management, and Custodial or Nominee accounts. In this blog we will take a closer look at Custodians. Custodians’ accounts can be the most prominent shareholders on […]

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25 January 2018

Investor Targeting vs Corporate Access


Victoria Geddes, Executive Director It’s that time of year when listed companies around Australia are gearing up for results reporting season – finalising accounts, booking conference calls and webcasts, updating their list of beneficial owners to ensure they have identified all key decision-makers and starting to work on the key messages they want to deliver. […]

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6 October 2016

Reconsidering the retail investor


PHIL MACKINTOSH and JONATHAN MAIRS, IR MAGAZINE Amid the continuing shift in assets to quant funds and passive ETFs, retail investors are a worthwhile target. Oct 6, 2016 At a glance  Steady players  Amid the shift from active to passive management, and from bottom-up to quant investing, retail investors stand out as a substantial group […]

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5 August 2016

What the buyside wants – lessons in investor targeting


VICTORIA GEDDES, EXECUTIVE DIRECTOR Aug 5, 2016 Results season has kicked off. While some companies are already out of the blocks, most are well into planning mode with ASX releases being drafted, presentations put together, Q&As assembled and the investor roadshow organised. For management teams it is often a gruelling process, but spare a thought […]

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