A total of 127 fund managers across all asset classes received at least one gold medal from research firm Sauren.
The firm’s Fund Manager Rating 2019 report ran the gamut from large companies to small boutiques, from renowned names to little-known managers.
Three gold medals were handed out to just six managers.
Only one individual in the emerging markets space took home the top accolade – and he managed to do it twice.
China Growth and Asia Focus
First State’s Martin Lau was arguably one of the top performers of 2019, at least according to the Sauren rating.
He received three gold medals for two of his funds:
- First State Greater China Growth Fund
- – which invests in equity and equity-type securities issued by companies established or having a predominant part of their economic activities in the People’s Republic of China, Hong Kong and Taiwan.
- First State Asia Focus Fund
- – which has at least 80% of its net assets invested in large and mid-cap equities issued by companies that are established, operating or have their economic activity mainly in the Asia Pacific region (excluding Japan, including Australasia) and which are listed, traded or dealt in on regulated markets worldwide and in equity-related instruments listed, traded or dealt in on regulated markets worldwide, which provide exposure to the Asia Pacific region.
Winning a brace
Ten fund managers in the EM space were the recipients of two gold medals, out of 73 pairs being handed out across all asset classes.
|Niraj Bhagwat||Wellington Asian Opportunities Fund|
|Stefan Böttcher||Magna New Frontiers|
|Andrew Brudenell||Ashmore Emerging Markets Frontier Equity Fund|
|Rajiv Jai||GQG Partners Emerging Markets Equity Fund|
|John Malloy||RWC Global Emerging Markets Fund|
|James Morton||CIM Dividend Income Funds|
|Suranjan Mukherjee||FAST Asia Fund|
|Elizabeth Soon||PineBridge Asia ex Japan Small Cap Fund|
|Anthony Srom||Fidelity Asia Pacific Opportunities Fund|
|Aziz Unan||Renaissance Ottoman Fund|
Taking home a gong
One gold medal was awarded to four EM fund managers, with 48 in total taking home a single honour.
|Lilian Co||E. I. Sturdza Strategic China Panda Fund|
|Nick Price||Fidelity FAST Emerging Markets Fund|
|Sashi Reddy||Stewart Investors Indian Subcontinent Fund|
|Dominic St George||Stewart Investors Latin America Fund|
In addition to its research capabilities, Sauren is also a funds of funds manager. Its philosophy is that “we do not invest in funds – we invest in fund managers’.
As a result, the firm holds more than 300 “intensive” meetings every year with the managers responsible for investment decisions.
Beyond establishing a personal impression of the fund managers, Sauren assesses the “plausibility of the investment philosophy, consistency in implementing it, the extent to which pragmatism plays a role, orientation towards market indices and the process of generating investment ideas”.
The contributions of the fund manager’s team also play a role.