Buyside analysts in the US are being overstretched by the additional number of stocks they are being asked to cover, as fund managers place more pressure on in-house research teams, according to a survey by Greenwich Associates, the US research firm.

The survey of 1,262 buyside analysts said in-house analysts now have to cover an average of 5.1 industries in 2003, up from 4.6 in 2002; and 59.7 companies in 2003, up from 47.7 in 2002. As a result they see sellside research as a critical adjunct to their own analysis, despite conflict of interest scandals.