According to Invest Smart, the aim of the awards is to “highlight funds that produce consistent performance and where there is, in the judges’ opinion, a high chance that the manager will not disappoint in the future”.
This year’s Invest Smart awards ceremony marked the 15th annual Fund Manager of the Year Awards. The awards recognize the outstanding achievements of fund managers across the industry. They cover both offshore and onshore funds registered for sale in the Asia-Pacific and celebrate the best of what is available to Australia investors.
All nominees are subject to a rigorous judging process which ranks funds on key areas of skill. This year, the grand judging panel was made up of 10 judges and its final decision was informed by the recommendations of over 200 expert fund selectors. Each considered fund was given a weighted score depending on its percentile ranking within its sector. Following this process, the shortlisted funds were asked to fill out a questionnaire about the fund and its contributing factors. The expert fund selectors then reviewed each fund within the category of their expertise and made recommendations to the judging panel.
The awards place great emphasis on consistency of managers. Despite high levels of turnover within the industry, Invest Smart believes that “top managers tend to be those who stick with their portfolios for the long term.”
The Phoenix Wealth Management Monthly Distribution Fund won the award for the best ‘Global Equity Income’ fund.
