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Country Sectors - Italy: First
It’s another year on top — the second in a row — for the 12-analyst troupe at Equita S.I.M. co-directed by Milan-based Matteo Ghilotti and Stefano Lustig.
Matteo Ghilotti, Stefano Lustig & teamEquita S.I.M.
The buy side says: “They’re independent-minded — they refuse to follow the herd.”
It’s another year on top — the second in a row — for the 12-analyst troupe at Equita S.I.M. co-directed by Milan-based Matteo Ghilotti, 46, and Stefano Lustig, 45. “Italy is definitely a market where having local knowledge and being plugged-in count — they have, and they are,” observes one portfolio manager. Citing growth in the defibrillation and U.S. heart-valve markets, the team advised clients to buy shares of Sorin, a biomedical-device manufacturer headquartered in Milan, in December 2009, at €1.21. The stock had enjoyed healthy gains of 42.1 percent, to €1.72, by the end of 2010. During the same period, Italy’s broad market dropped 10.9 percent. The Equita researchers are “very good stock pickers, with strong views that are backed up by good fundamental research,” applauds one investor.