by Jenny Ruth
Nominations are in for this year’s FundSource "Fund Manager of the Year" awards and this year there are six companies vying for the title.
AMP Henderson, Axa, BNZ Investment Management, Guardian Trust Funds Management, ING and Tower Asset Management are all under consideration.
NZ Funds Management isn’t being considered for the main award – it receives asset allocation and fund Manager selection advice from FundSource, but it is in the running for several of the sector awards including New Zealand cash, New Zealand equity and international equity.
Equities specialist Fisher Fund Management is also nominated in the New Zealand equity category while National Bank is under consideration in the fixed interest categories and Southland Building Society will fight it out with Tower in the "diversified defensive" category.
The awards, now in their 11th year, are based on information to 30 June and considers all retail New Zealand-based fund managers and their funds.
To be considered, funds must be open for new investment, be actively managed and have a minimum three-year performance history. Other qualifications are minimum investment sum of no more than $5,000, a minimum $10 million fund size and to have retained key people for at least two years.
The funds must also be qualitatively researched by FundSource and have an average 4 star or greater FundSource rating over the last six months. FundSource then analyses funds in each sector for performance.
Similar criteria apply to those in contention for the main award, including managing assets in the mainstream categories. The managers must demonstrate ownership stability and that they have kept at least 50% of their key investment personnel over the last two years. A representative fund is chosen for each manager across each of the four fund categories with weightings ranging from 5% to bonds and income assets to 40% for diversified funds.
The winners will be announced on 1 November.
Link to the FundSource Fund Manager of the Year page"
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