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.