Stronger corporate earnings and a weaker currency helped propel the Tokyo Stock Price Index up 9.9 percent in 2015, a time when the S&P 500 ended the year roughly where it began and global shares were also flat. Even so, some investors managed to beat the Japanese benchmark, thanks to helpful suggestions from equity research salespeople.
To find out where the most lucrative ideas originated, TIM Group, a London-based operator of the world’s largest network connecting investors with institutional brokerage’s trading ideas, reviewed nearly 31,000 stock recommendations that it distributed last year to hedge funds and traditional asset managers that invest in Japanese equities.
“We want to recognize brokers for the value they bring to their clients and celebrate excellence in our network,” explains William Herkelrath, New York–based head of business development. “An individual doesn’t win by having one lucky call, but must meet minimum idea thresholds and show consistent returns adjusted for the number of calls they’ve made over the year.”
贡献者在思想绩效，体积和一致性的基础上进行评估，以及其他因素和排名是为蒂姆集团服务的每个市场编制：亚洲，澳大利亚和新西兰，欧洲，日本和北美。
“对于日本我们对Topix的基准测试，”分析总监Robert Schuessler加上了罗伯特舒厄斯勒。“基准测试允许我们在不同地区的不同地区进行比较贡献者性能，而不会在特定交换中超重高或低性能。”
UBS is TIM Group’s top bulge-bracket performer in Japan for the first time since 2013. Eligible members of its team produced nearly 740 trade ideas, with an average outperformance of 4.15 percentage points. In second place, with nearly 280 suggestions that beat the benchmark by 3.05 points, on average, is Goldman Sachs International. At No. 3 for a second straight year is Credit Suisse, with 1,340 ideas that generated returns besting the market by 2.79 points.
中级和精品公司之间，日本的Ichiyoshi证券首先饰面;它的团队备注了420个想法，平均优于7.05点。
蒂姆集团只认识到大公司中的前三名;但是，它在较小的经纪人中排名十个最佳表演者。这是完整列表，平均优惠的垂直形式。
•Ichiyoshi Securities (7.05 points)
•SMBC Nikko Securities（4.92分）
•Nomura (3.59 points)
•三菱UFJ摩根士丹利证券公司（3.38分）
•Daiwa Securities集团（3.24分）
•Mizuho Securities集团（3.12分）
•Haitong International (2.53 points)*
•BGC＆MINT Partners（2.48分）
•Mirabaud证券（2.79分）
•Btig（2.39分）
信用瑞士斯在大公司日本股票销售人员中奠定了十大履行的五个顶级个人：
•akifumi umetani.那UBS (6.35 points)
•Hiroyuki Mori，信用瑞士（5.00分）*
•Shinichiro Hirai.，瑞银（5.66分）
•Akira Ariyoshi.，瑞银（4.61点）*
•Janice Yang.，信用瑞士（4.70分）
•Arthur Brantley IV，信用瑞士（4.68分）*
•Nahoko Wada.，摩根士丹利（4.87分）*
•Takayasu Ito.，高盛国际（4.97分）
•Stefan Worrall，瑞士信贷（3.69分）
•Joji Nakura.，瑞士信贷（3.61分）
和中级和精品经纪人之间的获奖者：
•Miho Harada那Ichiyoshi Securities (8.29 points)*
•Keita Imai，SMBC Nikko Securities（8.81分）
•Rodney Reid，SMBC Nikko Securities（6.82分）*
•David Turry，SMBC Nikko Securities（7.77分）*
•太梅拉，野村（8.70分）
•杰克卓那Daiwa Securities Group (4.38 points)
•Mayumi Nishikawa.那Mitsubishi Morgan Stanley UFJ Securities Co. (4.22 points)
•Takeshi Shima.，海通国际（3.95分）*
•蒂姆莫尔斯那BGC & Mint Partners (4.07 points)*
•肯·凯多，BNP Paribas（4.50分）
*由于提供了更高数量的有利可图的呼叫和/或更长的持续时间，销售人员销售量降低。
SMBC日光的凯塔Imai f的排名最高our salespeople from smaller brokerages to be included among the nation’s best for a second year in a row. (His colleague David Turry is another, as are Tim Morse of BGC & Mint Partners and Jack Zhuo of Daiwa Securities Group.)
“我的最佳主意发电机是我们的SMBC Nikko研究团队 - 我们的战略家，经济学家和分析师提供直接将我与捕获Alpha的高质量信息，”Imai报告今年第二位。“我仔细地选择了我投入到客户端并输入我的Alpha Capture。我基于关于激情程度和努力的选择，我觉得分析师进入他们的想法。“
He pursues a different strategy when it comes to stocks of smaller companies, which he believes have a greater potential to outperform. “Due to limited coverage of the sector, I focus more on utilizing my own personal resources, calculate the valuations, find the catalysts and make the investment decisions single-handedly,” he says. “With an adequate number of ideas and risk control, I am confident I can outperform in the mid- to long term regardless of short-term swings in the market.”
In late August, Imai advised clients to buy shares of Nippon Shinyaku Co., making the case that the Kyoto-based pharmaceuticals developer had a winner with Uptravi, a drug used in the treatment of pulmonary arterial hypertension. “It has the potential to triple earnings in five years,” he says. “However, the market seemed to have discounted the stock price based on a short-term negative catalyst — the downward pressure on earnings from soon-to-be off-patent drugs.”
He pounded the table on the stock and by late November, when he closed the call, it had shot up nearly 28 percent and led the broad market by 23 percentage points.
Imai还有很多赢得较短的呼叫，其中一个是Bunkyodo Group Holdings Co.，Akawasaki-Headartered卖方的书籍，光盘，DVD和相关媒体。“我开始于7月17日开始缩短它，在9月29日增加了我的立场，并于11月9日收购了利润，分别产生了[收益] 9.6％和56.3％，”他说。
他的呼吁对一个受欢迎的日本喜剧演员Naoki Matayoshi赢得了他的短小说的着名Akutagawa奖希巴纳。“In reaction the stock price doubled under the assumption that this hit maker will help Bunkyodo’s earnings,” Imai explains. “However, the earnings contribution of a one-hit title is limited. After the market realized this, the stock price dipped not only once, but twice — and far.”
A graduate of Soka University in Tokyo, Imai studied economics, in particular the policies needed to solve the problems of aging populations and the shuttering of factories owing to the impact of foreign exchange rates. He began his career in 1995 at Daiwa Securities, first in retail and then in institutional sales, then spent a brief period in bond sales at Sumitomo Mitsui Banking Corp. before joining Citi in 2005. (Citi acquired predecessor firm Nikko Cordial Securities in 2007, then sold it to SMBC in 2009.)
“每一天都很令人兴奋，有趣，”Imai保持。“每天发生变化，新的洞察力，每天都让我更好。我觉得能够在这样的环境中工作。“
有关前几年的详细信息，可以在线找到timgroup.com。