< The 2015 All-Europe Research Team

Total appearances: 16

Team debut: 1994

UBS’s ten-person squad led by Bosco Ojeda improves one notch, rising to second place after holding steady at No. 3 since 2012. “The team follows a large number of European midcaps on a very regular basis. Contrary to what people think, it is not that easy to find regularly published research on U.K. midcaps,” declares one portfolio manager. Stationed in Frankfurt, London, Madrid, Paris, Stockholm and Zurich, the analysts believe that European smallcaps are “relatively well positioned on a global basis, with some benefit from currency trends, low rates in Europe and budget stability. Gross domestic product growth prospects are low but enough for a good selection of stocks to grow at notable rates,” says Ojeda, who also directs a group that merits a runner-up position for its coverage of Iberia. “In our view, valuations of European smallcaps are reasonable, earnings quality is high, and mergers and acquisitions are likely to be a positive driver.” With a focus on stock picking rather than sector selection, Ojeda, 42, and his group are touting such companies as Andritz, an Austrian diversified industrials group; Anima Holding, Italy’s largest asset manager; Berendsen, a U.K. textiles cleaning and supply company; Bodycote, a British global thermal processor; Groupe Eurotunnel, the French operator of rail tunnels beneath the English Channel; Flughafen Wien, manager of the Vienna International Airport; Home Retail Group, a U.K. home goods retailer; Howden Joinery Group, a British kitchen supplier for small builders; SFS Group, a Swiss manufacturer of engineered components and fasteners; Teleperformance, a French call center provider; TUI, a German tourism and shipping company; and Zumtobel Group, an Austrian industrial lighting developer.