HGA | Equity Research


Heckman Global Advisors provides Equity Research Publications and Interactive Models to Investors and Institutions around the world


Since 1993, HGA has utilized a disciplined approach to provide investment recommendations on equity allocation across countries, sectors and industries. Recognizing the importance of top-down global equity allocation for international portfolio performance, we provide clients with timely research and investment insights.

We also offer interactive allocation software that allows clients to create customized models to inform their investment processes.


30+ Years of Experience

Dr. Leila Heckman, Ph.D., founder of Heckman Global Advisors, and Head of Global Equity Research at DCM, leads the research team with decades of experience, and is responsible for asset allocation recommendations for an international client base.
Head of Global Equity Research
Dr. Leila Heckman, PhD
Senior Economic Advisor
Dr. Paul Wachtel, PhD
Research Analyst
Eugene Karakh
Research Analyst
Nandan Madhiwalla, CFA
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Our Readers are Industry Leaders

Our research is utilized by premier institutional asset managers, including long-only equity managers, global asset allocators, and funds of funds.

Bespoke Sector Allocation Software, tailored to each client

HGA Interactive Models can be customized easily to meet the clients needs. Clients can use the models to . . .

  • Test investment indicators across countries or sector/industries
  • Change weighting on investment indicators, and
  • Create bespoke models.  

HGA works closely with clients in the customization.


Country Allocation

Our country allocation publications make actionable recommendations based on time-tested models incorporating a group of proprietary valuation, growth, risk, and momentum/sentiment investment indicators.

The All-Country Equity Allocator provides country allocation recommendations with the goal of enhancing the returns of All-Country equity portfolios, including both developed and emerging markets.

The Global Investment Outlook provides country allocation recommendations with the goal of enhancing returns of developed market equity portfolios

The Emerging Market Equity Allocator provides country allocation recommendations with the goal of enhancing returns of emerging market equity portfolios.


Sector Allocation

The Global Balancing Act provides allocations across six developed regions and ten sectors. Here again, the time-tested model incorporates at the sector region and sector level valuation, profitability/growth, risk and sentiment/momentum factors.

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Become a Research Partner

Heckman Global Advisors regularly teams up with the brightest minds in Academia and Equity Research to collaborate and write about market insights. Get in touch with the Head of Global Equity Research to learn more about how you can partner with HGA Research


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