Morningstar's picks for best fund manager
The finalists in Morningstar’s fund manager of the year awards has got a few surprises this year.
Monday, February 23rd 2004, 3:10AM
Overall in the seven sectors and the overall award, ASB Group Investments has the most nominations (4) followed by Asteron and BNZ with three each.
Sitting on two nominations each are Fidelity, Public Trust, Tower and ING, while six other managers (AXA, BT, Fisher Funds, National Bank, Sovereign and Westpac) have one each.
Sector winners are determined on a “blend of Morningstar’s risk-adjusted quantitative ratings and one year fund performance.”
To win the overall award a fund must have offered funds in at least three of the seven sectors. Points are awarded to each manager for the top three placings in each sector. These points are then weighted based on the importance of each asset class in the market.
The winners will be announced this weekend.
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