We are pleased to share with you the results of the "Investor Perceptions on ADRs" study, which Deutsche Bank's Depositary Receipts group commissioned from Thomson Reuters. Between November 2010 and January 2011, Thomson Reuters obtained insights from 35 top US buy-side firms with significant DR holdings.

Key findings include:

- Investors see a range of real benefits provided through investing in ADRs, including ease of trading, lower costs, transparency & overall flexibility/choice

- Among respondents a clear preference for sponsored and listed DRs was exhibited, for reasons of transparency and an overall perception of greater 'safety'

- Asset management firms do not appear to have a centralized or organized companywide approach to DRs and the rationale for investing in them; rather, the decision to invest in an ADR versus an underlying share is either dictated by client mandate or made at the portfolio manager level


Click here to download "Investor Perceptions on ADRs study"