TOP MANAGEMENT COMPANIES OF 2011

DOMESTIC MANAGEMENT COMPANY OF THE YEAR. The South African-domiciled management company with the best overall performance across sectors consisting of a suite of five or more rand-denominated funds with at least three years’ history. ALLAN GRAY

Certificate for Second-best Company: NEDGROUP INVESTMENTS

Certificate for Third-best Company: CORONATION

OFFSHORE MANAGEMENT COMPANY OF THE YEAR. The overseas-domiciled management company with the best overall performance across sectors consisting of a suite of five or more non-rand-denominated funds with at least three years’ history. INVESTEC

TOP OUTRIGHT PERFORMERS

Best Broad-based Domestic Equity Fund. The fund with the highest ProfileData total investment return ranking over three years in the Association for Savings & Investment SA (Asisa) domestic equity general, value and growth sectors. PSG EQUITY FUND

Best Domestic Fixed-Interest Fund. The fund with the highest ProfileData total investment return ranking over three years in the Asisa domestic fixed-interest bond and income sectors. ALLAN GRAY BOND FUND

Best Foreign (South African-domiciled) Equity Fund. The fund with the highest ProfileData total investment return ranking over three years in the Asisa foreign equity general sector. SIM GLOBAL BEST IDEAS FEEDER FUND (A)

Best Offshore Global Equity Fund. The fund with the highest ProfileData total investment return ranking over three years in ProfileData’s offshore global equity general sector. CORONATION GLOBAL EMERGING MARKETS FUND

TOP PERFORMERS ON A RISK-ADJUSTED BASIS

Best Domestic Asset Allocation Flexible Fund. The fund with the highest PlexCrown rating over five years in the Asisa domestic asset allocation flexible sector. PSG FLEXIBLE FUND

Best Domestic Asset Allocation Prudential Fund. The fund with the highest PlexCrown rating over five years in the Asisa domestic asset allocation prudential high equity, medium equity, low equity and variable equity sectors. OLD MUTUAL REAL INCOME FUND

Best Domestic General Equity Fund. The fund with the highest PlexCrown rating over five years in the Asisa domestic equity general sector. AYLETT EQUITY FUND

Best Offshore Global Asset Allocation Fund. The fund with the highest PlexCrown rating in ProfileData’s offshore global asset allocation flexible and prudential sectors. INVESTEC GSF GLOBAL STRATEGIC MANAGED FUND (A)

HOW THE RAGING BULL AWARDS ARE DETERMINED

The Raging Bull Awards recognise the top performers on both outright performance and risk-adjusted performance.

The top funds on outright performance over three years in most domestic, rand-denominated foreign and offshore unit trust sub-categories receive a certificate, and Raging Bull Awards are made in the sub-categories or sectors that attract the most funds.

Other certificates and Raging Bull Awards – particularly for the asset allocation funds and the more popular sub-categories – are awarded on the basis of risk-adjusted returns over five years, as measured by PlexCrown Fund Ratings. Risk management is a major factor in determining a fund’s success.

To qualify for a Raging Bull Award or a certificate, or for the PlexCrown ratings, a fund must:

* Be open to retail investors.

* In the case of an award made on the basis of straight performance, be in a domestic unit trust sub-category (including South African-domiciled foreign funds) that has at least five actively managed funds with histories of three years or more.

* In the case of an award made to a foreign-domiciled (non-rand-denominated) fund on the basis of straight performance, be in a sub-category that has at least six actively managed funds with histories of three years or more.

* In the case of an award made on the basis of risk-adjusted returns, be in a major asset allocation sub-category, or in one of the other larger sub-categories. Sub-categories that have at least five actively managed funds with histories of five years or more are included in the awards.

* Not be a passive or index-tracker fund.

* Not be a money market fund.

* Not be a Fundisa fund.

* Not be in a varied specialist sub-category or in the domestic asset allocation targeted absolute and real return sub-category where mandates differ widely.

* Not have changed sub-categories during the past year.

* In the case of offshore funds, have been registered with the Financial Services Board for at least a year.