The Citi quintet directed by Singapore-based Hoe Kiat (Patrick) Yau, which spent the past three years in the runner-up position, rises to third place. “Patrick provides a good top-down, macro approach in understanding key drivers,” explains one asset manager in Singapore. The researchers report on 61 companies. They upgraded Wilmar International from hold to buy in July, at 3.56 Singapore dollars, after disappointing results from the agribusiness concern’s oilseed-crushing operations in China had sparked a sell-off. The stock climbed as high as S$3.86 in late January before falling to S$3.33 by the end of April, but the team stands behind its buy rating, in part because of the company’s strong management and integrated-supply-chain model. “Yau’s team is well balanced, with significant knowledge and experience,” declares one fund manager in New York. — Ben Mattlin |
Country & Regions – Singapore: Third