Smaller banks provided the highest return to fund managers on their trading ideas in US financial services over the past year, according to rankings by privately held market information provider First Coverage.
The return on the S&P 500 Financials sector in the year ending June 30 was -43%, while the average return from actionable trade ideas generated by banks using First Coverageâs platform to provide information to asset managers was -1%. Only 50 of the 125 banks that submitted ideas made money for their clients.
