Morgan Stanley, in third place, returns to the roster for the first time since 2009. Newcomer Stuart Pearson directs the trio from London; one team member recently relocated to Shanghai to keep a closer eye on Chinese markets and factories. The analysts report on 17 companies and “have good industry insights and good stock selections,” asserts one pension fund manager in London. One example: In November 2011 the squad upgraded France’s Renault from underweight to overweight, dubbing the shares a bargain at €25.38. By late December 2012 the stock had careered 60.3 percent, to €40.69, and sped past the sector by 22.7 percentage points. The team still recommends Renault, partly on the carmaker’s recent reductions in its European capacity and emphasis on international sales. |