< The 2014 All-Europe Fixed-Income Research Team Karine Elias & team Barclays First-place appearances: 1
Total appearances: 3
Team debut: 2012 Karine Elias’s Barclays crew repeats at No. 2 on this lineup and bounds from third place to first in Investment-Grade Retailing/Consumer Products. Elias is “a great analyst who goes out of her way to be responsive to our questions,” one money manager asserts. The London-based researchers cover 60 issuers and are overweight on the high-yield retailing and gaming sectors. “We remained positive on the broader retail sector during 2013,” says Elias, “believing the majority of issuers would continue to experience positive momentum in profitability, through improved online offerings and stock positioning, leading to further deleveraging.” One currently favored name is U.K.-based New Look Retail Group. The clothing and apparel vendor’s improved product assortment, better markdown schemes and strong free cash flow have earned it an overweight rating since late July.