< The 2014 All-Europe Fixed-Income Research Team Antonio Roberto Henriques & team J.P. Morgan First-place appearances: 0
Total appearances: 4
Team debut: 2011 Rising from third place to seize the No. 2 position it most recently held in 2011 is J.P. Morgan’s trio captained by Antonio Roberto Henriques. The London-based analysts cover 82 issuers, which is down from 90 last year, but they plan to extend coverage this year to include second-tier European financials and specialty finance companies. Henriques and his colleagues provide “among the most comprehensive research on the ever-evolving bank regulations and target capital structures of banks in Europe,” reports one advocate, as well as “very interesting pieces on new contingent convertibles and their various risks.” For investors chasing yield in riskier instruments, the analysts have for the past year recommended picking up both the tier-1 (6.298 percent) and upper-tier-2 (4.375 percent) subordinated perpetual bonds of French insurer Groupama. From their March 2013 buy reiteration through December, they jumped 26.3 percent, to €86.51, and 18.5 percent, to €91.25, respectively. The researchers are also hailed for their “valuable insight on current market developments and the longer term,” as another backer says, which are delivered in a form that is “easy to read and straight to the point.”