< The 2015 All-Asia Research Team
Total appearances: 9
Team debut: 2005Macquarie Capital Securities posts its strongest showing since 2012, rising from runner-up to third place. Newcomer Yanlin (Matty) Zhao, 32, oversees the 12-person crew from her base in Hong Kong. She joined the firm in October 2011 from Nomura, where she covered Chinese coal companies, and was named head of Asia basic materials last year. Previously, Zhao worked in the advisory businesses of China Resources Capital Management and the London and Hong Kong offices of KMPG. She holds a bachelor’s degree in law from Beijing’s Renmin University of China and a master’s degree in the same subject from the London School of Economics and Political Science. Favored by investors for its accessibility, her Macquarie team also impresses clients with what one describes as its “accurate investment calls” and “razor-sharp rationales.” Another admirer notes that “their basic data for research in the industry is very helpful.” Overall, the researchers are positive on the prospects for regional basic materials names, which climbed 9.7 percent year to date through April — not far off the broader market’s gain of 10.3 percent. They recommend sector selectivity, however. “We like cement, followed by steel, aluminum and fertilizer,” says Zhao. On paper companies they are neutral, she adds, while their outlook for coal is bearish.
