Allan Gray is SA’s top manager of 2016
Allan Gray last night [Wednesday, 25 January, 2017] won the Raging Bull Award for the South African Management Company of the Year, while Nedgroup Investments was named the Offshore Management Company of 2016.
The South African and foreign management company of the year awards were two of 12 Raging Bull Awards announced at a gala dinner in Johannesburg. The event was hosted by Personal Finance, a publication of Independent Media, as well as ProfileData and PlexCrown Fund Ratings.
This is the fifth year that Allan Gray has won the asset management industry’s most prestigious award. It also marks the culmination of the company’s comeback, after falling to fifth place in the rankings at the end of 2014. Last year, it received the certificate for third-best domestic management company.
Allan Gray was the country’s top asset manager of 2008, 2009, 2010 and 2011. It was in second place in 2012 and 2013.
The management company of the year award is based on the overall risk-adjusted performance of all a company’s funds in unit trust sectors that consist of five or more funds with a performance history of at least five years to the end of 2016.
PSG received the certificate for second-best domestic management company of 2016.
Nedgroup Investments, which last year became the first management company in the history of the awards to walk off with the South African and the offshore management company awards, was named third-best domestic management company.
The Raging Bull Awards were established in 1997 to honour the managers of funds that consistently earn good returns for South African retail investors.
Usually, 10 Raging Bull Awards are handed out, but, to celebrate the 21st anniversary of the Awards, two special Raging Bulls were awarded. Investec Asset Management won both awards. Its Equity Fund received the Special Raging Bull for top outright performance over 21 years by a South African equity general fund, while the Investec Managed Fund took the special award for the best risk-adjusted performance over 21 years by a South African multi-asset equity fund.
The other companies to receive Raging Bull Awards were Centaur, Contrarius, NFB, Old Mutual and Prescient.
Apart from the 12 Raging Bull Awards, 43 certificates were awarded to funds that achieved outstanding returns over either three or five years to the end of December 2016. See full list of winners.
Don’t miss Personal Finance this weekend for interviews with the leading fund managers and details of why the leading management companies outperformed their peers.
Personal Finance is published every Saturday in the Pretoria News Weekend, the Saturday Star, The Independent on Saturday and the Weekend Argus, and is available online at www.persfin.co.za