< The 2015 All-Asia Research Team

Total appearances: 10

Team debut: 1999The Deutsche Bank troupe guided by Tracy Yu lands in second place for a third consecutive year. The group’s 14 analysts follow 96 regional banks, and of those, they recommend that clients favor Chinese, Indian and Indonesian names. Each of these groups outperformed the wider market during the 12-month period through April, rising 49.5 percent, 32.1 percent and 18.1 percent; while Asia ex-Japan banking shares gained 16.7 percent. Yu explains that private banks in India are well positioned to benefit from an improving macro turnaround and to enjoy the highest growth rates in Asia. Lower inflation risks will be a particular catalyst for these institutions as well as Indonesia’s lenders, the 41-year-old crew chief adds. As for China, “while there have been concerns about Chinese banks amid a slowing economy,” she notes, “we believe the reforms — including the securitization of local government debt and other bank assets, the launch of a deposit insurance scheme and the mutual stock market connect — will be game changers for the sector.” Fund managers value the researchers’ advice. “Tracy and her team understand the highly complex and political aspects of the Chinese banking system,” one portfolio manager observes. “My high regard for their work stems more from their intense intelligence gathering than, say, stock-picking prowess.”