< The 2015 All-Asia Research Team

Total appearances: 13

Team debut: 1997

Bank of America Merrill Lynch’s ten-strong, Singapore-based squad claims the No. 3 spot for a third consecutive year, earning praise for its “intellectual rigor and deep knowledge of government and corporate dynamics,” in the words of one fund manager. Hak Bin Chua, 48, and newcomer Chin Seng Tay direct the firm’s coverage of 18 Malaysian companies. As he has done since 2013, Chua also joins with Ting Lu in guiding the No. 1 crew in Economics. Tay, 54, also oversees, with Donald Chua, a group that merits a runner-up position for its reporting on Singapore’s stocks. He moved to BofA Merrill in 2010 from Macquarie Securities, where he tracked financials in Malaysia and Singapore, and previously worked at the Monetary Authority of Singapore. Tay holds master’s and bachelor’s degrees in economics from Queen’s University at Kingston and St. Mary’s University, respectively, in Canada. In February this Malaysia team reiterated its long-standing buy rating on mobile communications and network transmission services provider Axiata Group. Although the Kuala Lumpur–based carrier’s stock had climbed 9.5 percent during the trailing 12-month period, to 7.17 ringgit — besting the domestic market by 9.9 percentage points — the analysts foresaw further upside, thanks to Axiata’s broad exposure to leading Asian markets and rising dividend yield. They assign the shares a price objective of 7.80 ringgit; they closed April at 6.74 ringgit.