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03 Feb 2012 00:00
Thirty-nine accolades were handed to SA’s top fund managers at the recent Personal Finance Independent Newspapers Raging Bull Awards. Held in Camps Bay, Cape Town, on January 26, the awards recognised the top performing non-money-market funds available to retail investors on both outright performance and risk-adjusted performance.
The top funds on outright performance over three years in most domestic, rand-denominated foreign and offshore unit trust sub-categories and in sub-categories or sectors that attract the most funds receive a certificate.
Risk management is a major factor in determining a fund’s success. Therefore, certificates and Raging Bull Awards—particularly for the asset allocation funds and the more popular sub-categories—are awarded on the basis of risk-adjusted returns over five years, as measured by PlexCrown Fund Ratings.
Personal Finance, the awards organiser, said in a press release that last year was a tough one in which to make investment decisions. “[Yet] some unit trust managers not only rode out the storms but produced superior performance for investors,” it said.
Jeanette Marais, director of distribution and client services at top winner Allan Gray, said that “although it is great to be recognised, we do not chase awards”. “We remain focused on sticking to our investment philosophy in our bid to provide positive, absolute returns and to grow client’s money in real terms,” she said. “Additionally, we believe that it is very important that investors don’t pile into award-winning funds, but use these awards as a guideline to choose an investment house, and then stay with it.”
Investec Asset Management was another top winner at the awards evening. Co-chief investment officer Domenico Ferrini said that worldwide the company ranked as one of the top 100 largest managers of third party assets. Assets under management have grown from R200-million at inception in 1991 to R664-billion in 21 years. “What really sets Investec apart from its South African competitors, however, is that we are the only South African-rooted investment firm to have successfully built a truly global business with a globally integrated investment team,” he said.
“We firmly believe in the power of specialisation and that great investments come from bold and well tested ideas. “Successful investing also requires the discipline of process. At Investec, investment capabilities are supported by rigorous processes specifically developed by each specialist investment team.”
Investec was named the Offshore Management Company of the Year for 2011 for the second year running. This award recognises the unit trust company that has the “most impressive and most consistent overall performance” across its entire suite of offshore funds. Investec’s Global Strategic Managed Fund, managed by Philip Saunders, was also recognised as the best risk-adjusted performer over five years in the Offshore Global Multi-Asset Fund category.
Hendrik du Toit, Investec’s chief executive, said, “As a global investment manager proud of our African roots, it is gratifying that after 21 years in business, Investec continues to get recognition for top performance both at ‘home’ in South Africa and in the global markets we serve.
Personal Finance Independent Newspapers—Raging Bull Awards winners:
Domestic Management Company of the Year: Allan Gray
The South African-domiciled management company with the best overall performance across sectors consisting of a suite of five or more rand-denominated funds with at least three years’ history. Certificate for second-best company: Nedgroup Investments Certificate for third-best company: Coronation
Offshore Management Company of the Year: Investec
The overseas-domiciled management company with the best overall performance across sectors consisting of a suite of five or more non-rand-denominated funds with at least three years’ history.
Top outright performers:
Best Broad-based Domestic Equity Fund: PSG EQUITY FUND
The fund with the highest ProfileData total investment return ranking over three years in the Association for Savings & Investment SA (Asisa) domestic equity general, value and growth sectors.
Best Domestic Fixed-Interest Fund: ALLAN GRAY BOND FUND
The fund with the highest ProfileData total investment return ranking over three years in the Asisa domestic fixed-interest bond and income sectors.
Best Foreign (South African-domiciled) Equity Fund: SIM GLOBAL BEST IDEAS FEEDER FUND (A)
The fund with the highest ProfileData total investment return ranking over three years in the Asisa foreign equity general sector.
Best Offshore Global Equity Fund: CORONATION GLOBAL EMERGING MARKETS FUND
The fund with the highest ProfileData total investment return ranking over three years in ProfileData’s offshore global equity general sector.
Top performers on a risk-adjusted basis:
Best Domestic Asset Allocation Flexible Fund: PSG FLEXIBLE FUND
The fund with the highest PlexCrown rating over five years in the Asisa domestic asset allocation flexible sector.
Best Domestic Asset Allocation Prudential Fund: OLD MUTUAL REAL INCOME FUND
The fund with the highest PlexCrown rating over five years in the Asisa domestic asset allocation prudential high equity, medium equity, low equity and variable equity sectors.
This article originally appeared in the Mail & Guardian newspaper as an advertorial
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