Country & Regions – India: Second

After a year atop the roster, Morgan Stanley drops back to second place. Mumbai-basedRidham Desaimanages the 14-member crew, which follows 130 stocks and wins accolades for a January 2012 forecast that easing inflation would help boost India’s market by at least 14 percent by year-end. Sure enough, the S&P BSE Sensex index advanced 25.7 percent in 2012. “Ridham is one of the most experienced analysts and strategists in the space, with unique insights into markets,” proclaims one Singapore-based backer. Going forward the team is mostly — but not entirely — bullish. “Our view is that the worst for earnings is behind us,” says Desai. Small- and midcap companies in the consumer discretionary, energy, financials, industrials, materials and technology sectors are recommended; everything else, he says, should be underweighted. —Ben Mattlin