High Yield – Retailing/Consumer Products: Second
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High Yield – Retailing/Consumer Products: Second

Karine Elias & team


The two-member Barclays team under Karine Elias slips from first place to second but continues to win praise for employing a “forward-thinking approach,” as one fund manager in New York puts it. The London-based analysts, who also claim third place in Investment-Grade Retailing/Consumer Products, cover more than 60 names and are bullish on the high-yield sector for the year ahead, primarily on improving retail fundamentals. In January they initiated reporting on Britain’s Gala Coral Group, a gaming concern, with an overweight on its 11.5 percent 2019 unsecured notes, at £102.50. They like the outfit’s strong bingo business and growing online presence, among other considerations. “Karine is the kind of analyst you want to have on your side,” asserts one British portfolio manager. — Ben Mattlin

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