Alfred Dy & team CLSA Asia-Pacific Markets
The buy side says: “I like the quality of their research and good, nonconsensus calls.”
Alfred Dy and his Manila-based CLSA Asia-Pacific Markets fivesome claim the top spot for a fourth year running. The team, which follows 40 stocks, initiated coverage on Security Bank Corp. in July 2010 with a valuation-based buy rating, at 53.97 pesos, and pounded the table repeatedly since on the Makati-based financial services firm’s growing loan portfolio and ballooning market share. By the end of March 2012, the stock had catapulted 165 percent, to 143 pesos — making the Philippine broad market’s 31.2 percent advance pale in comparison. In August the analysts launched coverage on Megawide Construction Corp. with a buy, at 8.37 pesos, citing its rising earnings as the Pasay-based apartment builder was diversifying into infrastructure projects. The stock bolted 76.6 percent, to 14.78 pesos, through March. Dy, 46, earned an MBA from Makati’s Asian Institute of Management; he joined CLSA in 2004 from Philippine Equity Partners and “is one of the few long-term Philippine brokers who understand the market and its dynamics,” observes one fund manager. — Ben Mattlin
