The Raging Bull Award for the top offshore management company of the year was made to Lloyds TSB Offshore Fund Managers at this year’s awards ceremony.
Lloyds TSB is one of Britain’s oldest banks, and it is now a leading financial institution.
The investment management and asset allocation adviser is Scottish Widows Investment Partnership (Swip), which is part of the Lloyds TSB group and one of Europe’s largest asset management companies.
To qualify for the award, offshore fund managers must have at least three funds registered with the Financial Services Board (FSB) as funds suitable for South African investors. These funds must have registered with the FSB for at least three years and must qualify for inclusion in the PlexCrown Ratings.
The award for the top offshore management company goes to the manager with the highest average PlexCrown rating for all its funds that qualify for PlexCrown ratings. Lloyds achieved an average score of 3.574.
The PlexCrown ratings, of between one and five, are awarded based on a fund’s risk-adjusted returns relative to its sub-category peers on four or five different measures.
To qualify for inclusion in the offshore company rankings, a manager of funds registered with the FSB must have at least one fund in the global equity general or the global asset allocation sectors.
Lloyds TSB has eight funds registered with the FSB: five equity funds, one asset allocation flexible fund and two bond funds.
Its Multi Strategy Fund (Growth Strategy) achieved the highest rating of five PlexCrowns in the global asset allocation flexible sector, and the manager was placed first place among its peers in this sector.
The Lloyds TSB Offshore North American Fund achieved the second-highest rating of four PlexCrowns, giving the manager first place in the United States equity sector.
Four of Lloyd TSB’s funds achieved average PlexCrown ratings of three PlexCrowns each: the Offshore European Fund, the Multi Strategy Fund (Aggressive Strategy), the Multi Strategy Fund (Global US Dollar Growth Strategy) and the Offshore Gilt Fund (Monthly B Shares).
Its Offshore International Fund and Offshore Gilt Fund (Quarterly A Shares) received a below-average rating of two PlexCrowns each.
Relative to its peers, Lloyds TSB was joint-third in the Europe equity sector, in fifth position in the global fixed-interest bond sector, and in joint-13th place in the global equity general sector.
Lloyd’s TSB’s FSB registered funds are based in Jersey, and it has operations across the globe, and offices in Cape Town and Johannesburg.
Fund manager Swip invests in shares and other securities based on valuations. It conducts fundamental research to identify the true worth of the assets in which it invests.
The manager takes advantage of short-term market mis-pricing to invest when assets are cheap.
Franklin Templeton was the runner-up, with an overall offshore rating of 3.556 PlexCrowns.
Franklin Templeton has 19 funds registered with the FSB and it achieved the highest PlexCrown rating for four of these: the Franklin European Growth Fund, the Raging Bull Award-winning Franklin Global Small-Mid Cap Growth Fund, the Franklin US Opportunities Fund and the Templeton Asian Growth Fund.
Four funds achieved four PlexCrowns each.
Relative to its peers, Franklin Templeton achieved second place in US equity and Far East equity. It achieved third place in global asset allocation, fifth place in Europe equity and seventh place in global equity general.
Stanlib was placed third among its peers for the management of offshore-domiciled funds. It achieved an average rating of 3.472 PlexCrowns.
Stanlib has eight offshore funds that qualify for a PlexCrown rating.
The Stanlib Global Bond Fund achieved a PlexCrown rating of five and earned Stanlib the top place among its peers in the global fixed-interest bond sector.
Relative to its peers, Stanlib achieved third place in US equity and Far East equity, was eighth in global asset allocation and was placed sixteenth in global equity general.