This content is from: Research
2015 All-Asia Research Team: Equity Strategy, No. 2: David Cui, Ajay Kapur & team
Bank of America Merrill Lynch slips back to second place after a year on top.
Total appearances: 10
Team debut: 2000
Bank of America Merrill Lynch slips back to second place after a year on top. Working from Hong Kong and Singapore, the six strategists under the guidance of David Cui, 47, and Ajay Kapur, 50, “do an excellent job of recognizing top-performing sectors and are effective stock pickers as well,” one money manager avers. Risks related to deflation, debt default and currency devaluation should prompt investors to exercise caution, they advise. Moreover, given a worldwide slump in interest rates, the group anticipates that regional central banks will continue to advance aggressive and creative monetary policy intervention schemes. Given this environment, they advise clients to position their portfolios defensively, favoring the defense, information technology, logistics services and utilities industries. BofA Merrill’s researchers also are bullish on large-cap, state-operated enterprises such as telecommunication companies. This year Cui also co-captains, with Ting Lu, a crew that earns its fourth consecutive No. 1 finish on the China roster.