Morningstar Australasia Pty Limited has announced the winners of the Australian Morningstar Awards 2013. Perpetual Investments took the top award as Morningstar’s Austalian Fund Manager of the Year.
“The winners in the Australian Morningstar Awards have all shown themselves to be first-class stewards of their investors’ capital. The quality of their people, process, philosophy, and investment style are a testament to this, and continue to enable them to provide outstanding results for their investors,” Morningstar Australasia Co-Head of Fund Research Tim Murphy said.
Australian Fund Manager of the Year 2013 – Perpetual Investments
The Morningstar Australian Fund Manager of the Year 2013 is Perpetual Investments. Perpetual’s well-established investment approach implemented by its team of experienced investors enabled the firm to deliver commendable returns across its broad business in 2012.
A penchant for quality has been key to the firm’s success, while careful management of wider corporate challenges in recent years to ensure minimal impact on managed fund investors reflects well on Perpetual’s underlying processes. Astute asset allocation calls led to the firm winning the Fund Manager of the Year Multisector 2013 award as well, and a proven ability to revamp an existing strategy also successfully delivered to Perpetual the Fund Manager of the Year Emerging Manager 2013 title.
These wins, on top of being a strong contender in the Domestic Equities category, all make Perpetual Investments more than worthy of Morningstar Australasia’s highest accolade.
Methodology
Only fund managers with managed funds available for sale in Australia qualify for inclusion in the Australian Morningstar Awards, and only their retail and wholesale unit trusts, superannuation funds, and pension funds are considered.
Winners are determined by a combination of qualitative research by Morningstar’s fund analysts; risk-adjusted returns over medium- to long-term periods; and performance in the 2012 calendar year. Morningstar’s fund analysts assess the track record for a fund based on Morningstar’s Risk-Adjusted Return measure over the one-, three-, and five-year periods. Funds with less than a three-year track record are not included.
The objective is to screen for fund managers that have provided consistently strong returns, and not just reward those with the most impressive one-year return, but which have otherwise struggled to impress. Morningstar’s fund analysts then conduct a qualitative assessment of the fund managers under consideration.
Factors considered include the relative quality of the fund manager’s people, process, philosophy, and style, along with business and investment disciplines during the 2012 calendar year and over the longer term. The qualitative assessment also captures practical issues that quantitative screens cannot. After assessing the quantitative and qualitative outcomes for each fund manager, Morningstar’s fund analysts then debate and decide on the fund managers the analysts believe are worthy winners and finalists across the various sectors.
If a verdict cannot be reached by a unanimous decision, then each analyst casts a vote to decide.
