< The 2016 All-Asia Research Team

Total appearances: 12

Team debut: 2005

For a second consecutive year, Raymond Kosasih and his 11-person Deutsche Bank squad in Jakarta earn the No. 2 position on this roster. Tracking 82 Indonesian companies, they are “the best at understanding what’s happening on the ground,” says one client, who cites as an example the analysts’ reporting on clove cigarettes manufacturer Hanjaya Mandala Sampoerna. In late July they assumed coverage of the Surabaya-based tobacco company, assigning the stock a buy rating thanks to rising consumer spending and Sampoerna’s strong pricing power. Nine months later the shares had advanced 20.1 percent, to 95,500 rupiah, leading the broad domestic market by 18.1 percentage points. Investors also praise the Deutsche group’s ongoing optimism on Telekomunikasi Indonesia Persero, the nation’s leading telecoms player, whose diverse services include mobile, satellite and wireline communications, as well as networking infrastructure. The Bandung-headquartered company is favored in part for its lack of downside exposure to increasingly expensive broadcast towers, the researchers advise. During the 12 months through late April, Telkom Indonesia’s stock jumped 30.2 percent, to 3,685 rupiah, outperforming its domestic peers by 40.3 percentage points. Kosasih, 45, is “a standout among analysts for his knowledge, particularly in telecom,” observes another buy-side supporter. “Whenever I’m confused about the sector, Raymond is my first call.”