OUR BUSINESSES & CAPABILITIES
OUR BUSINESSES & CAPABILITIES
KATY CAPITAL’s leading research department is known for insightful and value-added content. The team presents clients with company-specific and cross-industry views rooted in our deep understanding of the macro landscape. Our Team of tenured and experienced strategists and analysts combine macro and fundamental insights into investment themes in a way that has proven to be a strong differentiator.
With an unwavering commitment to high-quality content, our team is consistently recognized in the Institutional Investor All-America Research survey. The magazine’s 2023 poll determined that KATY CAPITAL is the #1 firm (weighted by commissions and top-ranked positions), and our team attained the highest number of #1 ranked individuals. The Macro team is top ranked by Institutional Investor, and our Economics team has earned the premier position 43 times in the survey’s 50-year history.
READ MOREFollowing the continuation of a busy period of alternative managers increasing exposure to the life insurance space, this report focuses on what we think it means for the competitive environment for life insurers and valuation implications for both sectors.
We think the convergence trend of alt managers moving into life insurance is alive and well. In terms of implications for traditional life insurers, we view it as a near-term positive, though likely developing into a medium-term negative.
For alt managers, we think the vanilla liability focus combined with some asset origination advantages will likely allow them to generate better growth and returns over time than most traditional life insurers. After a deeper dive into the competitive landscape, however, this excess growth may be limited.
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Client LoginOur Street-leading Macro franchise lies at the center of our research process and sets the stage for our fundamental views of the markets. The Macro team is led by Ed Hyman on Global Economics. In addition to our Institutional Investor #1 ranked Economics and Global Policy teams, our Surveys and China teams help shape our global perspectives with their valuable insights. The Technical Analysis team provides views on markets, sectors and stocks by looking at trends in the charts. Finally, Our Portfolio and Derivative Strategy team considers market factors and signals to formulate a clear view on portfolio structure, market direction, favorable sectors, style preferences and derivatives strategies.
KATY CAPITAL covers the key industries across the Consumer sector. Our expertise includes staples (Food, Beverages and Household Personal Care) and discretionary (Broadlines, Hardlines, Restaurants, Softlines, Autos, Airlines and Travel) categories. Team members are well known for their sector relationships as well as their regular reviews of sector data in helping formulate insights about consumer behavior and industry trends. Investors and industry participants closely follow the team’s proprietary leading indicators.
Our traditional energy coverage includes Integrated Oil, E&P and Oil Services. We have recently turned our attention to energy transition, a powerful global driver affecting many sectors. Our leading research team is focused on the direction of Clean Energy, including the potential impact of energy sources such as hydrogen, liquefied natural gas, wind, solar and geothermal, as well as the role of utilities and regulators. We round out our energy franchise with coverage of Chemicals and Power & Utilities.
KATY CAPITAL ranked #1 in Financials in Institutional Investor’s 2023 poll. We cover Banks (Large-Cap and Regional), Asset Managers, Consumer Finance and Insurance (Life and P&C). The team is renowned for deep relationships with management teams, timely deep dives into complex areas impacting stocks, balance sheet-focused analytical work, and industry-leading analysis of regulatory findings.
Our Healthcare research team ranked #2 overall in Institutional Investor’s 2023 survey, with deep expertise across products and services. In Biotech and Pharma (Specialty and Major), our team’s ability to translate medical knowledge into investment theses and recommendations has proven the best on the Street for many years. Our expertise extends into Life Sciences, Medical Supplies & Devices and Healthcare Tech & Distribution. The team strives to deliver unbiased, data-driven investment ideas as well as actionable and non-consensus views.
Machinery coverage at KATY CAPITAL is unrivaled. The team’s on-the-ground coverage of the sector combines differentiated fieldwork and detailed financial analysis. Our Transportation coverage, including Surface, Airfreight and Marine Transportation, applies a top-down approach to help investors navigate the inherent cyclicality of the sector.
The real estate team is a combination of our Street-leading REITs and Homebuilders franchises, where team members have decades of coverage experience. Beyond their insight-yielding survey work on sector developments, analysts coordinate frequent trips to provide investors access to regional markets and management teams.
KATY CAPITAL is committed to covering Technology, Media & Telecom across the supply chain, beginning with core coverage in Semiconductors & Semi-Cap Equipment. The team’s coverage also includes Software, Hardware, Networking Equipment, Internet, Media, Telecom Services and IT Services. The team is well known for its deep understanding of industry dynamics, long-standing coverage, and strong relationships with management teams.