The finalists in Morningstar’s fund manager of the year awards has got a few surprises this year.
Monday, February 23rd 2004, 3:10AM
In the running for the top spot are BNZ Investment Management, which has won this award previously along with ASB Group Investments and Asteron Life (formerly Royal & SunAlliance).
Overall in the seven sectors and the overall award, ASB Group Investments has the most nominations (4) followed by Asteron and BNZ with three each.
Sitting on two nominations each are Fidelity, Public Trust, Tower and ING, while six other managers (AXA, BT, Fisher Funds, National Bank, Sovereign and Westpac) have one each.
Sector finalists are:
Multisector: Asteron Life, Fidelity Life Assurance, Public Trust.
New Zealand Fixed Interest: ASB Group Investments, Public Trust, National Bank.
Mortgage: ASB Group Investments, BNZ Investment Management, ING.
International Equities: Asteron Life, BNZ Investment Management, Sovereign.
New Zealand/Australian Equities: AXA, Fidelity Life Assurance, Fisher Funds Management.
Property: BT Funds Management, ING, Tower.
Morningstar’s awards cover 18 fund managers and excludes index funds.
Sector winners are determined on a “blend of Morningstar’s risk-adjusted quantitative ratings and one year fund performance.”
To win the overall award a fund must have offered funds in at least three of the seven sectors. Points are awarded to each manager for the top three placings in each sector. These points are then weighted based on the importance of each asset class in the market.
