< The 2015 All-Europe Research Team
Bernd Stahli & team
Kempen & Co.
First-place appearances: 0
Total appearances: 7
Team debut: 2009
Bernd Stahli leads his Kempen & Co. troupe to a repeat third-place finish. Six of his seven teammates are based in Amsterdam, and one analyst works out of London; together they report on 58 European property companies. The sector as a whole is a beneficiary of persistent low rates and will continue to attract capital in search of income, predicts Stahli, 44. “This will remain the case in 2015, particularly as financing is once again readily available.” The analysts’ key theme for the year ahead is to prefer London and Stockholm. “The combination of good economic growth, continued urbanization trends, and favorable investment and occupational fundamentals provide a solid basis for outperformance,” Stahli and his group advised clients in a January report. They further recommended that investors favor “offices over retail in these markets, given their higher cyclicality.” Companies that suit these parameters and as a result are among their top picks include the U.K.’s British Land and Land Securities Group, and Sweden’s Fabege.