Francisco Errandonea & team Santander second team Brian Chase & team J.P. Morgan
third team Leonardo Suárez & team LarrainVial
Santander’s Santiago-based trio finishes in first place for a sixth straight year. Team leader Francisco Errandonea, 32, impresses clients with “knowledge of the country and companies that is very deep,” in the words of one money manager. The analysts raised Empresas La Polar, a clothing and electronics chain, to a top pick in January, at 1,270 Chilean pesos, on the belief that management would rein in operating costs. Good call. The stock had surged 73.1 percent by July 31. During the same period Chile’s broad market gained 24.5 percent.
The previously unranked J.P. Morgan squad of six zooms in to second place. Brian Chase, who leads the team, joined the firm last year from UBS and also oversees the No. 2 team in North Andean Countries. In May the Santiago-based team upgraded Banco Santander Chile’s ADRs from neutral to overweight, on valuation. Through July the ADRs outpaced the sector by 11.8 percentage points.
Dropping one rung to third place is the LarrainVial Corredora de Bolsa quintet helmed by Leonardo Suárez. In April the team, which is based in Santiago, elevated to top pick the ADRs of Lan Airlines, on valuation. By late July the cargo carrier’s ADRs had soared 32.1 percent.
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