Ronald Smith & team
Citi
First-place appearances: 0

Total appearances: 3

Team debut: 2012

Captained by Ronald Smith, the six-strong Citi group seizes third place for a second consecutive year. “I appreciate his deep, fundamental perspective,” one portfolio manager says of the team leader. Along with geopolitical developments and global oil and gas price movements, the analysts — based in Istanbul, Johannesburg, Moscow, Tel Aviv, and Warsaw — are monitoring whether the Russian government will maintain its new tax regimes for development of shale oil, offshore oil and gas, and natural gas, as well as its higher dividend requirements at state-owned companies. Smith and his colleagues are urging investors to buy Russia’s Lukoil and the preferred shares of Surgutneftegas. “While most Russian oil and gas stocks can be described as ‘cheap,’” says Smith, “we favor these two for defensiveness, since both stocks are bumping against what we consider strong resistance levels, and on good to very good current dividend yields.” Moreover, he adds, Lukoil’s dividend is expected to continue to grow in the next few years, he notes, and Surgutneftegas’ preferred shares are still outperforming as more investors begin trading on Russia’s domestic exchanges, where the stock is quite liquid.

See also Ronald Smith's profile in the 2013 Emerging Europe, Middle East & Africa Research Team.