Bernstein Research, CM-CIC Securities, Dresdner Kleinwort Wasserstein and UBS Investment Research have been lauded for their effectiveness in analysing extra financial issues. They are to be awarded a slice of commissions from a group of fund managers as a result.

The four will each receive commissions from Enhanced Analytics Initiative, a group including BNP Paribas Asset Management, Dresdnerbank Investment Management, SNS Reaal Group and several major pension funds.