To select the members of the fourth All-Brazil Research Team, Institutional Investor surveyed directors of research and heads of investment at institutions in Brazil and other countries, asking them to name the analysts whose ideas and service were of the greatest value in eight equity-related industry sectors, two fixed-income categories and two macro disciplines. We received responses from representatives of more than 170 institutions, domestic and foreign, managing some $79 billion in Brazilian equities and more than $99 billion in Brazilian debt. Voter response was sufficient to publish results for complete teams (first, second and third place) in ten categories; this year we recognize only a first-teamer in Corporate Debt and in Sovereign Debt.

   The rankings are derived from numerical scores produced by weighting each vote based on the respondent’s Brazilian assets under management and on the place the respondent awarded to the analyst. Each member of the team also had to meet a minimum vote count. Analysts who switched firms after June 30, 2007, are cited at their previous organizations.

   The 2007 All-Brazil Research Team was compiled by Associate Editor Timothy Roberts and Researcher Milena Moreti, under the guidance of Director of Research Operations Group Sathya Rajavelu, Assistant Managing Editor Tom Johnson and Senior Editor Jane B. Kenney.