The annual Morningstar SA Fund Awards “recognise funds and fund houses that added the most value for investors within the context of their relevant peer group in 2018 and over longer time periods”.
Tal Nieburg, the managing director of Morningstar South Africa, said: “The winners of this year’s South Africa Fund Awards demonstrate there are still opportunities for patient investors despite slow domestic growth and trade risks affecting global emerging markets. The winning funds and fund houses relied on skill, experience and solid fund management strategies to deliver strong returns for investors.”
While the Morningstar awards are similar to the annual Raging Bull Awards, hosted by Personal Finance, in that they honour active performance by unit trust fund managers, there are some important differences, as shown in the table below.
The most important of these is that although risk-adjusted returns over longer periods are taken into account, greater emphasis is given to a fund’s returns over a single year.
Nedgroup Investments was awarded the key award of the evening, namely the Best Fund House, Larger Fund Range. This follows last month’s announcement that Nedgroup Investments was the Offshore Management Company of the Year for the fourth year in a row at the Raging Bull Awards.
Nic Andrew, the executive head of Nedgroup Investments, said: “We are very proud of these awards. These rankings measure the risk-adjusted performance of the entire range over the medium term and they are therefore a reasonable proxy for our investors’ experience. It is also particularly pleasing to see the consistency of this performance.”
FUND CATEGORY AWARDS
Best South African Equity Fund: Aylett Equity Prescient
Best Global Equity Fund: Melville Douglas SFL Global Equity
Best Bond Fund: Allan Gray Bond
Best Cautious Allocation Fund: Absa Inflation Beater
Best Moderate Allocation Fund: NFB Ci Managed
Best Aggressive Allocation Fund: Aylett Balanced Prescient
Best Flexible Allocation Fund: Platinum BCI Worldwide Flexible
FUND HOUSE AWARDS
Best Fund House - Larger Fund Range: Nedgroup Investments
Best Fund House - Smaller Fund Range: NFB Asset Management