< The 2014 All-Europe Research Team
After a year in third place then two at No. 2, Eduardo Lecubarri and his J.P. Morgan Cazenove crew in London are back on top, thanks in part to the team leader’s “proven and successful background in small caps,” according to one money manager. The two teammates believe that the upside potential for European small- and midcap names is “still significant, short of a surprise macro downturn,” Lecubarri reports. This group bested the broad market by 8.7 percentage points last year, surging 26.8 percent. They recommend that investors favor industries and stocks that offer so-called excess yield versus other asset classes. Those outperformers are likely to be found on the Continent rather than in the U.K. and in the peripheral countries rather than the core nations, asserts the 40-year-old Lecubarri. Likewise, preferred sectors include consumer discretionary, financials, industrials, technology and telecommunications. Regarding specific companies, a few of the names they like are Belgian insurer Ageas; diversified media company Métropole Télévision of France; Pirelli & C, an Italian tire maker; and Spain’s Prosegur Cía. de Seguridad, which provides security and transportation services. The J.P. Morgan duo “offers access to a wide number of small caps,” reports another adherent, “providing deep quantitative analysis.” See also Eduardo Lecubarri’s profiles in the 2013 All-Europe Research Team and 2012 All-Europe Research Team. |
