Chi Ming (Edwin) Chan & team UBS UBS’s Chi Ming (Edwin) Chan and his Hong Kong–based group of seven debut at No. 2 in this new sector. Proclaims one client: “Chan is the head of credit research but knows every single credit in detail that his team covers — his fundamental analysis and overall strategy are of high quality.” The potential decline in market beta is at the center of the crew’s investment themes. “It will be the key driver for credit-spread compression in Asian dollar bonds in 2012,” Chan asserts. The strategists are bullish on those bonds for the year, since they expect spreads to tighten and Asia to outperform the U.S. as systemic risk falls. “Still-solid fundamentals, attractive valuation and underallocation among global investors should argue for sector rotation into Asian dollar bonds, which means higher net inflows year-on-year,” Chan maintains. — ­Carolyn Koo