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asset-management

Satrix once again wins Morningstar award for best asset manager

For the second year in a row, passive manager Satrix Investments has won the award for Best Fund House: Larger Fund Range at the Morningstar Fund Awards South Africa for the risk-adjusted performance of its funds to the end of December 2021.

An asset manager must have at least 10 funds with a performance history of at least five years to be eligible for the Best Fund House: Larger Fund Range award.

Boutique firm Truffle Asset Management was named the Best Fund House: Smaller Fund Range. The qualifying criterion for this award is firms with at least three but fewer than 10 funds with a performance history of at least five years.

This is the fourth consecutive year in which the Best Fund House: Smaller Fund Range award has been won by a boutique asset manager.

Truffle’s SCI Income Plus Fund received the award for the Best Bond Fund in the fund category awards.

In fact, for the first time in the 11-year history of the awards, none of the large asset managers won in any of the fund categories.

The full list of fund category winners is:

  • Best Aggressive Allocation Fund: Southern Charter BCI Growth FoF
  • Best Bond Fund: Truffle SCI Income Plus
  • Best Cautious Allocation Fund: Sasfin BCI Stable
  • Best Flexible Allocation Fund: BCI Flexible
  • Best Global Equity Fund: Fundsmith Equity T Inc
  • Best Moderate Allocation Fund: Southern Charter BCI Balanced FoF
  • Best South Africa Equity Fund: Counterpoint SCI Value

Morningstar selects the finalists using a quantitative methodology with a qualitative overlay that considers the one-, three- and five-year performance history of all eligible funds, and adjusts returns for risk using Morningstar Risk, a measure that imposes a higher penalty for downside variation in a fund’s return than it does for upside volatility.

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