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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27 July 2023

SEC decision makes APAC companies’ access to US Institutions more difficult


BEN REBBECK, Executive Director This month, the U.S. Securities and Exchange Commission (the “SEC”) let expire a long-standing ‘no-action’ letter regarding the European Union’s Markets in Financial Instruments Directive II (“MiFID II”) provisions relating to research. This action by the SEC is set to further increase the challenges Australian and Southeast Asian companies face in […]

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27 April 2023

How to identify which retail brokers are trading my company’s shares


SALONI SURI, Shareholder Analytics An important question many IR professionals ask is – who are the owners of their company’s shares, and who is trading those shares? Using Beneficial ownership analysis, we can help identify the investors that hold a company’s shares. However, when it comes to trading by retail shareholders, identifying the brokers who […]

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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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30 March 2022

STOCK BORROWING AND LENDING 101


CHRIS HUGHES, Shareholder Analyst The borrowing and lending of shares dates back to the earliest days of stock trading. Put simply, it involves the owner of shares ‘lending’ them to another investor or institution who ‘borrows’ them for a given length of time. Borrowing and lending deals are often transacted by market makers or dealers, […]

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28 October 2021

Why Intraday trading volumes may not impact a share register


SALONI SURI, Investor Relations Executive A common question asked by our clients is why they see more volume traded on market than captured in the investor tracking report over a period of time. Trading volumes and Underlying Beneficial Ownership Most of our clients experience large trading volumes on market but not all trading is reflected […]

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