What BCA Research does

BCA Research is an independent, Montreal-headquartered provider of global investment research founded in 1949, serving institutional clients across 70 countries. The firm delivers macro-based investment recommendations spanning all major asset classes (equities, fixed income, currencies, commodities) and geographies (US, Europe, China, Emerging Markets) through approximately 20 subscription products organized into Global Macro, Regional Analysis, Asset Class, and Tools & Analysis categories, each led by a dedicated Chief Strategist. Its proprietary quantitative core is MacroQuant 2.0, a learning-algorithm forecasting model that processes hundreds of super-leading indicators and powers the flagship Global Investment Strategy service, supplemented by tools such as the Equity Analyzer, Chart Explorer, GeoRisk Indicators, and a High-Frequency Index for China.

The firm generates revenue through annual enterprise subscriptions sold via a direct field sales motion to a diversified institutional client base of 2,000+ organizations including asset managers, hedge funds, family offices, pension funds, sovereign wealth funds, and wealth managers. With 80% of top global asset managers as clients, $34 trillion in combined client AUM, and 12+ year average client tenure, the business model is built on deep institutional relationships rather than transactional volume. BCA Research is privately held as a subsidiary of the Delinian financial information and media group, employs a global research team of 60+ experts including 10 Chief Strategists, and operates with no trading, asset management, or investment banking activities, preserving an explicitly unconflicted research stance as its core value proposition.

Name

BCA Research

Legal name

BCA Research Inc.

Website

https://bcaresearch.com

Company type

Private

Founded year

1949

Operating status

Operating

Headcount range

51–100 employees

Short description

BCA Research is an independent, Montreal-based provider of global macro investment research founded in 1949, serving 2,000+ institutional clients across 70 countries via annual subscriptions powered by its proprietary MacroQuant 2.0 quantitative model.

Ownership category

akta.pro rank

Product category

Investment Research

NAICS

Portfolio Management and Investment Advice (52394), Securities, Commodity Contracts, and Other Financial Investments and Related Activities (523)

SIC

Investment Advice (6282)

akta.pro primary industry

Strategy & Thematic Research (FSACAGAG)

akta.pro secondary industries

Equity Research (FSACAGAA), Sector-Specific Industry Research (FSACAGAL), Macro & Rates Research (FSACAGAC), Industry & Sector Research (Syndicated/Custom) (BPAHALAE)

Keywords

• Independent investment research
• Macro strategy research
• Geopolitical risk analysis
• Asset allocation research
• Institutional research subscriptions

Headquarters

HQ city

Montreal

HQ country

Canada

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Revenue model

1. Subscription Research Services: BCA Research generates revenue through annual subscription fees for its suite of investment research products and services. Products are organized into Global Macro, Regional Analysis, Asset Class, and Tools & Analysis categories, each led by senior strategists. Pricing is not publicly disclosed and appears to be negotiated on a per-client basis, consistent with institutional B2B subscription models. The company also offers complimentary trials to prospective clients, suggesting a land-and-expand motion.

Pricing tiers

Go-to-market motion1 record

Distribution channels1 record

Marketing channels6 records

Core offering

BCA Research provides subscription-based independent global investment research, including macro strategy, geopolitical analysis, regional economic research, asset-class strategies, and quantitative forecasting, delivered to institutional investors to support portfolio construction, asset allocation, and trading decisions. Products are led by specialist Chief Strategists and powered by the proprietary MacroQuant 2.0 quantitative model.

Product overview

BCA Research is a platform-plus-modules architecture offering a comprehensive suite of investment research products organized across four main categories: Global Macro publications (including flagship Global Investment Strategy, Geopolitical Strategy, Global Asset Allocation, Private Markets & Alternatives, GeoMacro, Daily Insights, Counterpoint, The Bank Credit Analyst, and BCA Live & Unfiltered), Regional Analysis services (China Investment Strategy, Emerging Markets Strategy, European Investment Strategy, US Investment Strategy, and US Political Strategy), Asset Class focused strategies (Commodity & Energy Strategy, Foreign Exchange Strategy, Global Fixed Income Strategy, US Bond Strategy, and US Equity Strategy), and Tools & Analysis (Equity Analyzer and Chart Explorer). The core MacroQuant 2.0 quantitative model powers the Global Investment Strategy service, providing forecasting across all major financial markets. The company also partnered on Macrobond Amplify, a browser-based research distribution tool for delivering interactive research content.

Differentiator

Problem solved

Functional benefit

Products and services

• Global Investment Strategy BCA's flagship publication providing macro-based investment recommendations across all asset classes, geographies, and time horizons, led by Peter Berezin. It is intended for CIOs and asset allocation teams at institutional investors.
• Geopolitical Strategy The financial industry's premier geopolitical research service using hard data to calculate scenario probabilities and market impacts for geopolitical risks and opportunities, led by Matt Gertken.
• Global Asset Allocation BCA Research's portfolio construction service advising CIOs and asset allocation teams on structuring optimal global multi-asset portfolios, led by Juan Manuel Correa.
• Private Markets & Alternatives Empirical analysis and expert advice on private markets and alternative asset classes including private equity, private credit, infrastructure, real estate, and hedge funds, led by Brian Payne.
• GeoMacro The first investment framework integrating macroeconomics and geopolitics, focused on power dynamics and global market implications.
• Daily Insights Timely concise coverage of economic and policy events, cross-asset market action, and BCA's latest investment ideas.
• Counterpoint Global macro strategy service synthesizing macroeconomics with psychology, behavioral finance, non-linear systems, and complexity analysis, led by Dhaval Joshi.
• The Bank Credit Analyst Publication covering developments in the US and global economy, published continuously since 1949.
• BCA Live & Unfiltered Daily live reviews of market events with Chief Strategists debating investment implications.
• China Investment Strategy Evaluates cyclical trends and structural developments of China's economy with investment recommendations for China and the Greater China region, led by Jing Sima.
• Emerging Markets Strategy Critical input for global and EM investors providing macro investment themes and recommendations across emerging markets.
• European Investment Strategy Exclusive gateway to European macro and market insights, essential for investors eyeing Europe, led by Jeremie Peloso.
• US Investment Strategy Insight into the future direction of financial markets for US-focused investments, led by Doug Peta.
• US Political Strategy Financial market research on US politics and policy using geopolitical methodology, led by Matt Gertken.
• Commodity & Energy Strategy Top-down global-macro framework with bottom-up fundamental analysis of major commodities.
• Foreign Exchange Strategy Helping guide portfolio managers, CIOs, and traders with actionable overlay strategies and profitable trading ideas in currency markets.
• Global Fixed Income Strategy Premier service on the direction of interest rates and overall debt market dynamics.
• US Bond Strategy Service assuming the posture of a US fixed-income portfolio with recommendations for duration and fixed-income positioning.
• US Equity Strategy Advises investors on how macro regimes, fundamentals, and market dynamics shape US equity investment decisions, led by Noah Weisberger.
• Equity Analyzer Powerful platform combining top-down and bottom-up approaches to identify portfolio opportunities across sectors and regions.
• Chart Explorer Tool enabling users to view interactive versions of BCA's analysis charts.

Quantifiable outcome

• The MacroQuant model has significantly outperformed buy-and-hold portfolios historically.
• +3 more outcomes

Named customers6 records

Segments6 records

Ideal customer profiles6 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability2 records

Feature6 records

Partnerships

One partnership is on record.

• FinCap Private Markets PlatformminorStrategic or Co-development PartnerBCA Research entered a partnership with FinCap Private Markets Platform to develop asset allocation frameworks for FinCap's upcoming direct co-investment platform (FinCap Direct), which provides investors access to individual private market opportunities across private equity and real estate. This partnership enables FinCap to leverage BCA's macro research and asset allocation expertise in serving private markets investors.

Scale indicators10 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• TS Lombard: Independent global macro research firm serving institutional investors with cross-asset strategy. Closely comparable to BCA in independent positioning, institutional subscription model, and cross-asset macro coverage.
• Capital Economics: Independent UK-based macro research firm selling subscription research to institutional investors across global macro, commodities, and country risk. Closely comparable to BCA in business model, subscription mechanics, and client base, though somewhat more UK/Europe-weighted.
• Gavekal Research: Independent investment research firm focused on Asia and global macro with a subscription model serving institutional clients. Highly comparable in independent positioning and Asia/global macro overlap with BCA.
• Eurasia Group: Independent geopolitical risk advisory and research firm serving institutional clients. Directly comparable to BCA's Geopolitical Strategy service in offering subscription research on political risk with scenario analysis.
• Ned Davis Research: Long-standing independent investment research provider offering quantitative and fundamental research to institutional clients. Closely comparable to BCA in independent positioning, multi-decade operating history, and institutional subscription model.
• Strategas: Institutional research firm focused on macro, policy, and sector strategy with subscription research and advisory services. Comparable to BCA in institutional client focus and macro/policy research overlap.
• Cornerstone Macro: Independent macro research firm serving institutional investors with US-focused economic and policy analysis. Comparable to BCA in independent positioning and subscription model, though with narrower geographic scope.

Emerging players

• Variant Perception: Independent macro research firm serving hedge funds and institutional investors with a contrarian, data-driven approach. Smaller scale than BCA but similar independent positioning and emphasis on non-consensus calls.

Broad incumbents

• Moody's Analytics: Large-scale research, data, and analytics provider within the Moody's ecosystem serving institutional investors. Overlaps with BCA in macro and credit research but operates at significantly greater scale and scope across a much wider product portfolio.
• Bloomberg Intelligence: Bloomberg's in-house research arm providing industry and macro research to terminal subscribers. Competes with BCA for institutional research wallet share, though typically bundled with Bloomberg's data and analytics platform rather than sold standalone.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/bcaresearch
• LinkedInlinkedin.com/company/bca-research
• Facebookfacebook.com/bcaresearch

Revenue estimate

Valuation estimate

Number of profiles

Profiles18 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about BCA Research