Relative newcomer to the managed funds scene ASB Investments has won the Morningstar Fund Manager of the Year Award.
Monday, March 1st 2004, 7:59AM
It has taken out the award ahead of Asteron Life and BNZ
The head of ASB Group Investments Ross McEwan says winning the award shows the group is coming of age.
“The majority of the funds offered through ASB Bank have been available for less than five years, so it’s a real achievement to have reached this position in a relatively short period of time,” he says.
Sector winners
Multi Sector - Public Trust
New Zealand fixed interest - National Bank
International fixed interest – ASB
Mortgage Funds – ASB
New Zealand/Australian shares – AXA
International Shares BNZ Investment Management
Property – Tower
To receive the overall award, a fund manager must have offered funds in at least three of the seven sectors where winners are determined. Points were awarded to each fund manager for the top three placings in each sector. The points were then weighted based on the importance of each asset class in the market where awards are given.
