BT Funds Management has for the first time in 9 years won the IPAC Fund Manager of the Year Awards.
In getting the award BT beat off the winners in the past two years, AMP Henderson Global Investors and Tower Asset Management.
IPAC Securities general manager David van Schaardenburg says all the top managers have been through a number of changes in the past 18 months.
BT has been sold twice, finally to US-based Principal Group, AMP has been creating a global funds management business under its Henderson brand and Tower has been creating an Australiasian funds management team.
Van Schaardenburg says BT won the overall award primarily because it has been so strong in the international sector (although it didn't win this sector).
He says the company has overcome the problems it had in this area by putting in place tighter portfolio management processes, plus it had much tighter control of its risk management within portfolios.
Another plus for BT has been its people. Although the business has changed hands the key personal have stayed with the business.
"BT Funds Management has demonstrated significant improvement over the last few years to become the top fund manager when measured by IPAC's Award judging process.
"BTFM's strong people and process characteristics, combined with excellent fund performances have placed them in the top position. BT have strong stability with their key investment staff, enabling accumulation of high levels of team and industry experience.
"Firm leadership and a competitive defined culture provide BT with strong performance across a diverse set of asset classes."
BT chief investment officer Craig Stobo acknowledges the changes that have been made within the business have helped the performance of its funds.
He also says BT has been able to leverage off its Sydney office.
"I don't think we could have got this award without their assistance," he says.
Besides winning the top award BT picked up first place in the global bonds and diversified growth fund sectors.
The joint runners up were last year's winner AMP Henderson Global Investors and Tower Asset Management.
The award for the most improved fund manager went to AXA.
For a full list of winners and comments on why they won Click Here
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