A set of three awards recognising leaders in the South African investment scheme industry and identifying the year’s most exceptional funds and fund managers was launched last week.
The inaugural annual awards, the Alexander Forbes Investments Asterisk* Awards, were presented at the Financial Planning Institute of Southern Africa’s annual gala dinner this week.
The awards are the Best Equity Fund Award, Best Equity House Award and Environmental, Social and Governance Award. They are awarded to investment managers that have funds in the South African equity general category.
“The Alexander Forbes Investments Asterisk* Awards seek to recognise fund managers who demonstrate investment skill by incorporating in their quantitative ranking measures that explicitly look to capture manager skill. Measures based purely on performance, or even risk-adjusted performance, often fail to differentiate between skill and luck in investment outcomes,” said Leon Greyling, the chief executive of Alexander Forbes Investments.
To qualify for consideration for the inaugural awards, funds should have had at least R250 million of assets under management at the end June and a track record of at least five years.