Antoinette Coetzee & team
Morgan Stanley
Unranked last year, Morgan Stanley returns to the roster in third place under the guidance of newcomer Antoinette Coetzee. “They know all the companies across the entire spectrum — retailers, food and beverage, tobacco, luxury goods — and always respond quickly to requests,” applauds one backer. Coetzee left the firm in April, but teammate Natasha Moolman reports that the six-person squad — with analysts based in Russia, South Africa, Turkey and the United Arab Emirates — remains bullish on South African retailers. “They are, on balance, excellent operators, and management teams are approachable,” she says. “Investment cases for many are well laid out. There are different dynamics at play — cash versus credit, high versus low end, food versus clothing.” Recommended stocks include Mr Price Group, Shoprite Holdings and Woolworths Holdings. — Pam Baker