Corporate Access Through COVID-19 and Beyond

U.S. investors report how they want to engage with international issuers

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Corporate Access Through COVID-19 and Beyond

U.S. investors report how they want to engage with international issuers

May 10, 2021

COVID-19 had a deep impact on Investor Relations practices for corporate issuers located outside the U.S. In interviews with 38 U.S.-based portfolio managers representing nearly $610 billion in Equity Assets Under Management (EAUM), we uncover how well these changes worked for investors and which ones may continue post-pandemic. 

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Our research, conducted in conjunction with Greenwich Associates, highlights:

  • Investors’ requirements for management access before initiating an investment
  • Satisfaction with current levels of access
  • Environmental, social and governance (ESG) considerations
  • Availability of depositary receipts and its impact on investors’ decisions

Key Findings

  • Views were mixed on whether COVID-19 changes would be permanent. 57% of respondents thought new virtual processes could persist due to convenience and cost factors.
  • Nearly all (97%) investors surveyed prefer some type of access to management before initiating an investment.
  • 82% of all respondents noted the increasing importance of ESG considerations during due diligence. That rises to 100% with firms over $25 billion in EAUM.
  • 75% of firms with $0.5-$5 billion in EAUM and 55% of firms with $5-$25 billion in EAUM said the availability of depositary receipts improved the likelihood of investing in international issuers.
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Key actions for issuers’ investor relations teams:

  • Embrace opportunities to engage directly with U.S. investors and allocate senior management’s time effectively.
  • Take advantage of virtual capabilities to improve outreach with investors in less readily accessible geographies.
  • Improve targeting to low- and moderate-turnover investors as well as asset managers with under $25 billion in EAUM. These firms have capital to deploy, value long-term engagement, see themselves as underserved by existing channels, or may seek to leverage depositary receipts in their process.
  • Ensure clear messaging around ESG issues and understand investor expectations.

Our Global Investor Relations Advisory team looks forward to discussing the insights and implications with our clients.

BNY Mellon is a global investments company dedicated to helping its clients manage and service their financial assets throughout the investment lifecycle. Whether providing financial services for institutions, corporations or individual investors, BNY Mellon delivers informed investment and wealth management and investment services in 35 countries. As of March 31, 2021, BNY Mellon had $41.7 trillion in assets under custody and/or administration, and $2.2 trillion in assets under management. BNY Mellon can act as a single point of contact for clients looking to create, trade, hold, manage, service, distribute or restructure investments. BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation (NYSE: BK). Additional information is available on Follow us on Twitter @BNYMellon or visit our newsroom at for the latest company news. 


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