< The 2015 All-Asia Research Team
Total appearances: 8
Team debut: 2000For a second straight year, the UBS squad piloted by Nicolas Gaudois, 44, and Diviya Nagarajan, 35, nabs third-place honors. Gaudois also co-heads runner-up teams on two other Technology rosters: Hardware, with Arthur Hsieh; and Semiconductors, with Hui-ming (Eric) Chen. The Hong Kong–based information technology services and software group wins investor praise for “consistently being ahead of the curve in forecasting demand trends in the industry and for sticking to their convictions and not shying away from making bold calls,” in the words of one investment manager. Caution is the analysts’ message going forward because they anticipate slowing revenue expansion for the sector, given weakening demand trends over the next year. Moreover, for the “longer term, we expect new technology trends and outsourcing models to put pressure on legacy revenue,” Nagarajan says. As a result, they are not recommending the group, as a whole, and assign buy ratings to no stocks. However, the researchers remain neutral on India’s HCL Technologies, Tata Consultancy Services and Tech Mahindra, citing expectations of improving earnings growth.