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Morningstar announces US Fund Manager of the Year award winners
07 January 2013
Category:
News, Asia, USA
By Asia Asset Management
Morningstar has announced its 2012 US Fund Manager of the Year award winners. The awards acknowledge managers who not only delivered impressive performance in 2012, but also excellent long-term risk-adjusted returns, and who have been good stewards of fund shareholders' capital. This year, Morningstar introduced new awards for two types of strategies – allocation and alternatives – in addition to domestic stock, international stock, and fixed income. To recognise outstanding fund managers each year, Morningstar selects leaders in each type of strategy. The 2012 Fund Manager of the Year award winners in the United States are:
Domestic-Stock Fund Manager of the Year: Bill Frels and Mark Henneman, Mairs & Power Growth (MPGFX)
International-Stock Fund Manager of the Year: Rajiv Jain, Virtus Foreign Opportunities (JVIAX) and Virtus Emerging Markets Opportunities (HEMZX)
Fixed-Income Fund Manager of the Year: Mark Kiesel, PIMCO Investment-Grade Corporate Bond (PIGIX)
Alternatives Fund Manager of the Year: The team of Eric Newman, Kevin Gates, Larry Eiben, Richard Gates, Chao Chen, and Yan Liu, TFS Market Neutral (TFSMX)
Allocation Fund Manager of the Year: David Giroux, T. Rowe Price Capital Appreciation (PRWCX)
"Despite a high level of economic and political uncertainty this past year, broad swaths of the market performed better than many investors would have expected, and each of our fund managers of the year have added value relative to their own benchmarks and broader peer groups, not just in 2012 but over the long haul," said Scott Burns, director of North American fund research for Morningstar. "We introduced awards for fund managers overseeing allocation and alternative strategies this year to recognise the growing investor interest in these areas. Interest in strategies using multiple asset classes has grown over the past 20 years, especially with the emergence of target-date funds and more flexible, go-anywhere funds pursuing a range of different goals. Assets in funds employing alternative strategies rose about 21% in 2011, and then another 16% through November 2012."
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