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Three managers in running for award

Just three fund managers are in the running for the overall FundSource fund manager of the year awards this year compared to six in 2002.

Sunday, October 19th 2003, 11:16PM
The three managers vying for the top award are: last year’s winner BNZ Investment Management, along with BT Funds Management and Tower Managed Funds.

The winner of the awards are due to be announced in a couple of weeks time.

This year FundSource have 12 managers competing for awards in the 10 fund sectors.

Tower has the most nominations, with four, and ING and Public Trust are next with three nominations each.

Of interest is that no managers have been nominated for the international fixed interest award and the winner of the international share section has already been found as there is only one nominee – the Tower GAM Global Gateway fund.

Lots of the usual funds have been nominated in the various sectors. For instance Guardian Trust and Asteron feature strongly in the cash and New Zealand fixed interest sector, while Fisher Funds, AXA and the National Bank feature in the New Zealand shares sector.

Some of the relative newcomers to the awards this year are Public Trust (three nominations in the various balanced fund sectors), Perpetual Trust (cash and New Zealand fixed interest).

AMP, who has featured in the awards in recent years received no nominations this year, and NZ Funds no longer participates in either the research or awards processes.

All New Zealand based funds management companies that have retail investment funds are considered for the overall award and the sectors.

FundSource selects its managers on risk adjusted return, along with a range of qualitative screens.

The awards are based on information as at June 30.

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