2015 All-Asia Research Team: Telecommunications, No. 3: Colin McCallum & team

<The 2015 All-Asia Research Team Colin McCallum & teamCredit SuisseFirst-place appearances: 0

Total appearances: 11

Team debut: 2000

For a second year in a row,Colin McCallumsteers his seven-person Credit Suisse crew to third place. The group holds a neutral view of the region’s telecommunications companies because “stocks are more expensive now,” says the Hong Kong–based leader. Indeed, the sector jumped 24.5 percent during the 12 months through April, outperforming the broader market by 9.9 percentage points. Even so, McCallum and his teammates see potential upside for fixed-line broadband providers in the region — including emerging markets. Factors driving increased uptake include content development, e-commerce, convergence with pay TV and mobile services and declining equipment price points. With its low penetration, high growth and somewhat friendly competitive environment, Indonesia has the most attractive structural conditions for broadband, the team believes, and Link Net, an Indonesian Internet services provider, is one of its top picks. Another preferred name is China Unicom (Hong Kong). “We suspect the powerful catalyst of tower asset injections is now only months away,” explains McCallum, 42. “Colin gives a good regional perspective,” avers one fund manager.