The 2014 Emerging EMEA Research Team: CEEMEA Equity Strategy, No. 3: David Aserkoff & team

David Aserkoff & team
J.P. Morgan

First-place appearances: 0

Total appearances: 3

Team debut: 2012

Although they slip one rung to No. 3, David Aserkoff and his J.P. Morgan crew earn praise for providing high-quality research that “identifies catalysts and always presents a solid framework and fundamentals,” in the words of one portfolio manager, who also singles out the group for its pack-leading coverage of Greece. Despite the bearish sentiment that has prevailed among the global investment community, the six analysts — spread across Johannesburg, London, Moscow and Mumbai — have been bullish on emerging markets, in general, and on Greece and the Middle East & North Africa in particular. As investors recognize that “emerging markets are cheap versus developed markets,” Aserkoff says, “flows to EM equities can resume.” This in turn will facilitate financing of current-account deficits, he adds, even as “faster global growth will help exporters like peripheral Europe.” Greek shares are especially attractive and due for a rebound, the strategists believe, following their 18 percent sell-off between late October and mid-May, against the broader emerging market’s 8.2 percent drop. In MENA, the Dubai Financial Market General Index is setting a blistering pace, rocketing 118.9 percent from its early September low point through May and trouncing its EM peers by 110.7 percentage points. Yet, despite “maturing,” the team leader reports, “we do not feel it has peaked.” This year, Aserkoff also directs, with Alexander Kantarovich, a runner-up squad in Emerging-Europe Equity Strategy.

See also David Aserkoff’s profile in the 2013 Emerging Europe, Middle East & Africa Research Team.

Related