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JB Were earns another star

Morningstar bumps JB Were up from a three star to a four star manager.

Wednesday, May 2nd 2001, 10:47PM

Morningstar has upgraded JB Were Investment Management’s star rating from three to four stars, because of improved overall performance.

While JB Were is an Australian manager, it does offer its funds in New Zealand.

Morningstar's decision to upgrade the firm puts it into the four star ranks alongside AMP, Merrill Lynch, National Australia Bank-owned MLC and Rothschild.

Four stars denotes a "very good" quality manager, as opposed to the "good" tag associated with a three star rating.

Over the past year, to March 31, the number of JB Were funds with four stars has trended steadily upward.

Also the manager has more funds than average with four stars, and fewer than average with either one or two stars.

Morningstar says "73% of JB Were's funds under management is in four or five star funds as at March 31 this year, compared to the industry average of 35 per cent."

Across the various criteria that Morningstar uses to rate the funds, JB Were had an improved corporate strength rating due to its business reorganisation and doubling of staff, which the ratings house contributed largely to its improved overall rating.

Meanwhile, its administration and distribution rating actually plummeted from above average to well below average due to what Morningstar has identified as JB Were's relative weakness in IT system administration.

Similarly, JB Were's investment management rating fell slightly below average from an average position. However, its sector strength rating increased from 8.01 at December 31, 2000 to 8.51 at 31 January, 2001.

Morningstar says JB Were's asset allocation process has a clear focus on fundamentals, which is adding value while minimising transaction costs.

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Lender Flt 1yr 2yr 3yr
ANZ 5.64 4.75 4.85 4.99
ANZ Special - 4.25 4.35 -
ASB Bank 5.55 4.69 4.89 5.25
ASB Bank Special - 4.15 4.39 4.65
BankDirect 5.55 4.69 4.89 5.25
BankDirect Special - 4.15 4.39 4.65
BNZ - Mortgage One 6.30 - - -
BNZ - Rapid Repay 5.75 - - -
BNZ - Special - 4.25 4.39 4.64
BNZ - Std, FlyBuys 5.69 4.85 4.89 4.99
BNZ - TotalMoney 5.69 - - -
Lender Flt 1yr 2yr 3yr
Credit Union Auckland 6.70 - - -
Credit Union Baywide 5.95 ▼4.99 ▼4.99 -
Credit Union North 6.45 - - -
Credit Union South 6.45 - - -
Finance Direct 6.10 6.45 6.69 7.10
First Credit Union 5.85 - - -
Heartland 6.70 7.00 7.25 7.85
Heretaunga Building Society 5.60 4.85 4.90 -
Housing NZ Corp 5.55 4.69 4.85 4.99
HSBC Premier 6.10 4.25 4.39 4.59
HSBC Premier LVR > 80% - - - -
Lender Flt 1yr 2yr 3yr
HSBC Special - 4.25 4.25 -
ICBC 5.60 4.39 4.69 4.99
Kiwibank 5.45 4.70 4.75 4.75
Kiwibank - Capped - - - -
Kiwibank - Offset 5.50 - - -
Kiwibank Special - 4.29 4.25 4.85
Liberty - - - -
Napier Building Society 6.50 5.80 6.70 -
Nelson Building Society 6.10 4.85 4.99 -
NZ Home Loans 5.85 4.69 4.75 5.09
Perpetual Trust 7.70 - - -
Lender Flt 1yr 2yr 3yr
Resimac 5.59 5.24 5.29 5.39
SBS Bank 5.59 4.75 4.89 4.99
SBS Bank Special - 4.10 4.29 4.65
Sovereign 5.65 4.69 4.89 5.09
Sovereign Special - 4.15 4.39 4.65
The Co-operative Bank 5.45 4.25 4.35 4.65
TSB Bank 5.54 4.85 4.95 5.25
TSB Special - 4.35 4.19 4.79
Wairarapa Building Society 6.20 5.75 5.95 -
Westpac 5.75 4.79 4.89 4.99
Westpac - Capped rates - 5.15 5.25 -
Lender Flt 1yr 2yr 3yr
Westpac - Offset 5.75 - - -
Westpac Special - 4.25 4.39 4.80
Median 5.75 4.69 4.85 4.99

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