Aashish Agarwal of CLSA captures the crown for a third consecutive year, on the back of investor praise for his “very detailed and prompt research on the macro and micro,” as one client puts it. Another portfolio manager chimes in that the analyst’s “[comparative balance] sheets, research notes and length of coverage are superior.” Agarwal, 35, published one of his substantial sector outlook reports in September, reminding investors of his long-standing preference for financial institutions that offer strong deposit franchises and maintain especially tight underwriting standards. Three Mumbai-based money centers, Axis Bank, ICICI Bank and IndusInd Bank, fit this bill, he believes. Agarwal first recommended that investors buy the stocks in May 2007, and although buffeted by macroeconomic headwinds, all three outperformed the sector over the 12 months through mid-October 2013. Axis slipped 2 percent, to 1,081.45 rupees; ICICI slid 5.9 percent, to 974.55 rupees; and IndusInd jumped 13.4 percent, to 407.40 rupees — against the sector’s decline of 7.4 percent. — Katie Gilbert |
The 2013 All-India Research Team: Financials, First: Aashish Agarwal
