Nicolas Baratte & teamCLSA Asia-Pacific Markets
CLSA Asia-Pacific Markets ruled the roost from 2009 through 2011 but this year drops to third place, following Bhavtosh Vajpayee’s departure for Barclays Capital last summer. Newcomer Nicolas Baratte now oversees the Mumbai-based team, which wins plaudits for its “finely detailed and comprehensive” global view, in the words of one money manager. The analysts have been negative on the sector since mid-June, on the belief that revenue growth would decline, consensus expectations were unjustifiably high and the stocks were overpriced, among other considerations. The sector had tumbled 15.6 percent by late August and lagged the broad market by 4.1 percentage points, but the team didn’t catch the rebound — it shot up 26.8 percent through March, well ahead of the market’s 9.3 percent advance. Nonetheless the CLSA analysts are appreciated for their “industry knowledge and client service,” according to another backer. —Pam Baker
CLSA Asia-Pacific Markets ruled the roost from 2009 through 2011 but this year drops to third place, following Bhavtosh Vajpayee’s departure for Barclays Capital last summer. Newcomer Nicolas Baratte now oversees the Mumbai-based team, which wins plaudits for its “finely detailed and comprehensive” global view, in the words of one money manager. The analysts have been negative on the sector since mid-June, on the belief that revenue growth would decline, consensus expectations were unjustifiably high and the stocks were overpriced, among other considerations. The sector had tumbled 15.6 percent by late August and lagged the broad market by 4.1 percentage points, but the team didn’t catch the rebound — it shot up 26.8 percent through March, well ahead of the market’s 9.3 percent advance. Nonetheless the CLSA analysts are appreciated for their “industry knowledge and client service,” according to another backer. —Pam Baker