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Smaller managers shine once again at Raging Bulls

But Allan Gray retains its title as manager of the year.
Of the six Raging Bull Awards presented to South African funds, five went to unit trusts managed by smaller firms. Picture: Moneyweb

In the tough investment environment of the last few years, it has been noticeable how a number of smaller asset managers in South Africa have been prominent in the performance tables. This was again confirmed at the Raging Bull Awards on Wednesday evening that recognised top-performing funds and managers over the last three and five years.

Of the six Raging Bull Awards presented to South African funds, five went to unit trusts managed by smaller firms. The exception was the Sanlam Multi Managed Conservative Fund of Funds that won in the category for the best South African multi-asset equity fund on a risk-adjusted basis over five years.

Most notably the Fairtree Equity Prescient Fund was awarded the title of the best South African equity general fund on a risk-adjusted basis for the second year running. This is a creditable achievement in a period when the local stock market has been extremely difficult to navigate.

The list of Raging Bull Award winners is:

Raging Bull Awards for straight performance over three years:

Best South African equity general fund:

RECM Equity Fund

Best South African interest-bearing fund:

Sasfin BCI Flexible Income Fund

Best (South African-domiciled) global equity general fund:

BlueAlpha BCI Global Equity Fund

Best (FSCA-approved) offshore global equity fund:

Contrarious Global Equity Fund

Raging Bull Awards for risk-adjusted performance over five years:

Best South African equity general fund:

Fairtree Equity Prescient Fund

Best South African multi-asset equity fund:

Sanlam Multi Managed Conservative Fund of Funds

Best South African multi-asset flexible fund:

Long Beach Flexible Prescient Fund

Best (FSCA-approved) offshore global asset allocation fund:

Investec GSF Global Multi-Asset Income Fund

Two smaller firms also gained recognition in the awards for South African manager of the year. These identify the companies with the best overall performance across their suite of funds.

Boutique house MI-PLAN took third place, buoyed particularly by the performance of the MI-PLAN IP Global Macro Feeder Fund. This fund won a certificate for the top risk-adjusted performance by a South African-domiciled global multi-asset high equity fund over the past five years.

PSG Asset Management took second place for the third year running. Although the company has gained significant recognition in recent years, it remains a relatively small player in the industry.

The title of South African manager of the year went to Allan Gray. This was the third consecutive year that the country’s largest asset manager has earned this award.

Nedgroup Investments took the award for the offshore management company of the year. This is the fourth year in a row that the company has claimed that accolade.

Other notable winners from the list of certificates awarded on the night are:

For top outright performers over three years:

Best South African multi-asset flexible fund:

Flagship IP Flexible Value Fund

Best South African multi-asset low equity fund:

Kagiso Stable Fund

Best South African multi-asset medium equity fund:

Kagiso Protector Fund

Best South African multi-asset high equity fund:

Element Balanced SCI Fund

Best South African multi-asset income fund:

Sasfin BCI Flexible Income Fund

Best South African interest-bearing short-term fund:

SIM Enhanced Yield Fund

Best South African interest-bearing variable-term fund:

Allan Gray Bond Fund

Best South African real estate fund:

Marriott Property Income Fund

Best (South African-domiciled) global multi-asset flexible fund:

Prescient RECM Global Feeder Fund

Best (South African-domiciled) worldwide multi-asset flexible fund:

RECM Global Flexible Fund

For top risk-adjusted performance over five years:

Best South African multi-asset low equity fund:

NFB Ci Stable Fund

Best South African multi-asset medium equity fund:

Discovery Moderate Balanced Fund

Best South African multi-asset high equity fund:

Aylett Balanced Prescient Fund

Best South African multi-asset income fund:

Pan African IP Income Hunter Fund

Best South African interest-bearing short-term fund:

Momentum Enhanced Yield Fund

Best South African interest-bearing variable-term fund:

Allan Gray Bond Fund

Best South African real estate fund:

Absa Property Equity Fund

Best (South African-domiciled) global equity general fund:

Nedgroup Investments Global Equity Feeder Fund

Best (South African-domiciled) global real estate fund:

Catalyst Real Estate Prescient Global Feeder Fund

Best (South African-domiciled) global multi-asset low equity fund:

Nedgroup Investments Cautious Global Feeder Fund

Best (South African-domiciled) global multi-asset high equity fund:

Momentum International Balanced Feeder Fund

Best (South African-domiciled) global multi-asset flexible fund:

MI-PLAN IP Global Macro Feeder Fund

Best (South African-domiciled) worldwide multi-asset flexible fund:

Select BCI Worldwide Flexible Fund

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Patrick, are ETF’s considered when making these awards?
Very interesting read, thanks.

These are awards are a bit of a joke, if you look at many of the winners over 3 years, they were the dogs over 5 or 7 years.

All this is, is the industry patting itself on the back on the back for inconsistent lumpy returns, which invariability promotes switching, which is destructive for retail investors wealth creation over the long-term.

I do not see how these awards serve any value to the consumer?

Inconsistent and lumpy is exactly how long-term investing works. If you want consistency invest in ‘cash’ and for that consistency you get low returns. Get used to inconsistent and lumpy because that is the most realistic expectation and path to long-term growth.

Patrick, no mention of the fact that Dr Iqbal Surve both was one of the sponsors of the event? And unbelievably he had the audacity to comment on the problems that we face in SA!!!!!!! Personally I was disgusted.

The Raging Bulls have been sponsored by The Independent Newspapers since inception. How our fund managers can even arrive at the event and proudly pose for their award-photographs, considering Surve’s involvement, I cannot fathom? Do these things not matter anymore, or are they all prostitutes who will give a blow job in exchange for some publicity?

End of comments.

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