Consumer – Beverages: Third

Advancing from runner-up to third place is the Deutsche Bank team directed from London byJonathan FellandJames Isenwater; Fell also leads the No. 2 team in Tobacco, while Isenwater is co-pilot (with Harold Thompson) of a runner-up crew in Food Producers. “Our focus is on avoiding unnecessary risk,” says Isenwater. The analysts are urging clients to choose such stocks as Diageo, a wine and spirits manufacturer headquartered in the U.K., and Dutch brewer Heineken — two names with solid, well-balanced exposure to emerging markets — over Carlsberg, a Danish beer producer whose biggest market is Russia. The Russian government recently implemented new regulations restricting beer sales in an effort to curb alcohol abuse in that country. “I gave a high grade to Jonathan and Jamie for their global reach and in-depth knowledge of covered companies,” notes one portfolio manager at an Italian asset management firm.
—Katie Gilbert