< The 2016 All-Asia Research Team

Pierre Lau & team
Citi
First-Place Appearances: 11

Total Appearances: 12

Team Debut: 1996

Citi’s regional power squad under the direction of Pierre Lau dominates this sector for a tenth consecutive year. These nine researchers, one client declares, possess “deep insights on the industry, communicate regularly regarding updates and organized several company visits that provided a very good chance to communicate with company managers.” A second fund manager values their “sound analysis and ability to take a more medium-term view of underlying market developments.” On regional utilities and clean-energy stocks, their coverage is “comprehensive and accurate,” another client remarks. Lau and his associates are positive on utilities amid low unit fuel costs and have a bullish outlook for clean energy, crediting its fast expansion. “The major issue that the companies in the sector will face going forward is more competition,” advises the 45-year-old crew chief. “We think the best-performing subsectors in the next 12 months will be China’s wastewater industry for high growth potential and its downstream gas industry for volume-growth acceleration.” Following 58 names, with plans to add more A-shares this year, the analysts dub Beijing Enterprises Water Group and China Resources Gas their top picks.