Fidelity Worldwide Investment and Danish-based Jyske Invest scooped the top prizes at the Lipper Fund Awards 2012, taking the accolades for best overall large and small groups respectively.
Fidelity also took home the prize for best large bond group, while Old Mutual Asset Managers (pictured picking up the award, from Fund Strategy’s editor, Adam Lewis) was awarded best small bond group. In terms of equities, First State won large equity group of the year, while Dundee Wealth was awarded the accolade of best small equity group.
In the final two group awards, of which Fund Strategy was a media partner, Investec Asset Management won best mixed assets large, and Wise Investments took the mixed assets small category.
Ed Moisson, the head of UK research at Lipper, says: “It’s always interesting when the awards highlight some smaller players and not just the household names. While the winners are those that have delivered the best risk-adjusted and consistent returns for their investors, some of the less well known names are also ones to watch in the future. (article continues below)
“A special mention should also go to First State, who has won a group award for the fourth year in a row.”
Explaining the methodology behind the winners, Moisson says winners were chosen for performance across their fund range, not just individual successes. This is determined, he says, by the lowest average rank of funds within a group based on the same three-year consistent return measure used for individual funds.
Winners were split between large and small groups, determined both by their number of funds in different asset classes, as well as their European assets under management.
There were 35 individual fund awards. Scottish Widows Investment Partnership (Swip) triumphed in the most categories, winning three. The winning funds were Swip UK Flexible Strategy in the Absolute Return £ (Medium VaR) sector, Swip European Corporate Bond (Bond Euro Corporates) and Scottish Widows Dynamic Solution (Mixed Asset £ Balanced).
Other notable wins saw the Unicorn UK Income fund, managed by John McClure, pick up the award for best Equity UK Income fund, and Richard Penny’s L&G UK Alpha Trust triumphing in the UK Equity peer group.
“Fund winners were chosen on the basis of the best consistent returns over three years when compared with peers [based on Lipper Classifications],” says Moisson. “A smooth return curve will be valued more highly than a more volatile performance record.”