< The 2015 All-Asia Research Team

Total appearances: 7

Team debut: 2009Morgan Stanley’s group with Bin Li at the helm prevails for a seventh year in a row. The squad’s five analysts — working out of offices in Australia, Hong Kong and India — publish research on some 60 companies, and plan on increasing that number with an expansion into Chinese equities. Of that universe, they are most enthusiastic about pharmaceuticals companies with large R&D coffers that can specialize in novel and differentiated drugs, and therefore have the most leverage in getting their products listed on public health plans. The researchers also recommend that investors keep an eye on hospital stocks, reasoning that the private hospital industry is the least developed within the Chinese health care space and that it is poised to grow thanks to favorable government policies and strong long-term demand. “We are impressed by their deep understanding of the overall industry dynamic in China,” one money manager reports. Another admirer appreciates the analysts’ client service skills: “They are also easygoing and willing to help.”