Surprises abound in this year's awards
This year's FundSource Fund Manager of the Year Awards is full of surprises.
Tuesday, October 19th 2004, 2:51AM
FundSource yesterday announced the nominees for its awards which are bound to raise a few eyebrows.
Deadset winners are Tower and Public Trust in the international equities and diversified growth sectors respectively as they are the only nominees
Everyone’s a loser in international fixed interest – there are no nominees.
Potential surprises are the three nominees in the New Zealand mortgages sector as they are relatively unknown and small regional entities – First Mortgage Managers, Fund Managers Canterbury and Fund Managers Otago.
Adding to the surprise factor here is that none of the banks feature in this sector, yet their funds pull in huge amounts of money.
Another potential surprise is the absence of Fisher Funds from the New Zealand shares sector as it has been a very successful manager in its niche.
An analysis of the nominees also reveals the absence of many of the large fund managers. For instance BT Funds doesn’t feature at all, nor does ASB Group Investments, AMP has one fund, – although two of the funds it manages for the National Bank are nominees - and BNZ although nominees for overall Fund Manager of the Year don’t have any sector nominations.
Just to cap it off the two managers with the most nominations (four each) are Tower and the Public Trust. Clearly they do a good job but the latter is not a name which springs to mind as a contender for “Fund Manager of the Year”.
Fund Manager of the Year nominees
|
AXA New Zealand Ltd |
|
BNZ Investment Management |
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TOWER Managed Funds |
Fund Sector Nominees
NZ Cash
| ING (NZ) Ltd | ANZ Flexi Cash (33%) |
| Perpetual Trust | Perpetual Trust Cash Fund |
| Guardian Trust Financial Services | Guardian CashPlus Fund (33%) |
NZ Mortgages
| First Mortgage Managers | First Mortgage Trust (33%) |
| Fund Managers Canterbury | NZ Mortgage Income Trust (33%) |
| Fund Managers Otago | Canterbury Mortgage Trust (33%) |
NZ Property
| AMP Financial Services | AMP NZ Property Trust |
| ING (NZ) Ltd | ING Property Securities Fund |
| TOWER Managed Funds | Tower PropertyPlus Fund |
NZ Equity
| AXA New Zealand | AXA Australasian Selected Equities Trust |
| ING (NZ) Ltd ING | New Zealand Share Fund |
| National Bank Managed Funds | Thoroughbred NZ Equity Growth Trust |
International Equity
| TOWER Managed Funds | Tower GAM Global Gateway Fund |
NZ Fixed interest
| Asteron Life Ltd | Asteron Corporate Bond Trust |
| Asteron Life Ltd | Asteron NZ Fixed Interest Fund |
| National Bank Managed Funds | Thoroughbred Corporate Bond Trust |
International Fixed Interest
NO NOMINEES
Diversified Balanced
| Public Trust | Public Trust Balanced Fund |
| Public Trust | Public Trust Moderate Growth Fund |
| TOWER Managed Funds | Tower Tasman Balanced Growth Fund |
Diversified Defensive
| Public Trust | Public Trust Defensive Fund |
| Southland Building Society | SBS Capital Stable Fund |
| TOWER Managed Funds | Tower Tasman Conservative Growth |
Diversified Growth
| Public Trust | Public Trust Growth Priority Fund |
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