Johannesburg - The Oscars of the unit trust industry, the Raging Bull Awards, celebrated its 21st anniversary last night, and to mark the occasion there were two special awards made in addition to the 10 coveted awards. The event was hosted by Personal Finance, a publication of Independent Media, in conjunction with partners ProfileData and PlexCrown Fund Ratings.
The special awards were for the firm with the top-performing South African equity general fund over 21 years and top multi-asset equity fund on a risk-adjusted basis over 21 years.
Dr Iqbal Survé, executive chairman of Independent Media, addressed this year’s event, which was held at the Summer Palace Ballroom in Johannesburg.
More than 300 representatives of leading unit trust firms, boutique managers, financial services regulators and investment industry bodies attend the event. Each year, 10 Raging Bull Awards are awarded.
The most coveted award, for the South African Management Company of the Year, is made on the basis of an average PlexCrown fund rating that measures risk-adjusted returns and consistency of performance across all of a manager’s qualifying funds for periods up to five years.
Last year, Nedgroup Investments was the first management company to scoop the Raging Bull Awards for South African Management Company and for Offshore Management Company.
The award for the Offshore Management Company of the Year is made to the fund manager with the best average risk-adjusted performance rating for its foreign-currency funds.
Certificates are awarded to the runners-up in the domestic management company rankings.
The runners-up last year were Coronation Fund Managers and Allan Gray. Coronation has won the coveted Raging Bull for South African Management Company six times - three times in a row - while Allan Gray has been the company of the year four times.
Details of the award, as well as interviews with all the award winners, will be published in this Saturday’s edition of Personal Finance in the Pretoria News Weekend, the Saturday Star, The Independent on Saturday and the Weekend Argus and in Personal Finance website, www.persfin.co.za.