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Perpetual named Fund Manager of the Year

Christine St Anne  |  25 Feb 2013Text size  Decrease  Increase  |  

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Christine St Anne is Morningstar's online editor.


Fund manager Perpetual Investments has scooped up three accolades in the Australian Morningstar Awards 2013, including the top gong of Fund Manager of the Year.

According to Morningstar, Perpetual's well-established investment approach and experienced investment team enabled the firm to deliver commendable returns across its broad business in 2012.

Astute asset allocation calls also led to the firm winning the Fund Manager of the Year Multi-Sector 2013 award.

The investment manager's proven ability to revamp an existing strategy successfully also delivered Perpetual the Fund Manager of the Year Emerging Manager 2013 title.

Last year was a challenging time for the fund manager, after its well-regarded head of equities John Sevior left the company in late 2011. Fund outflows of $1.2 billion hit the Australian equities funds business following the announcement.

However, Morningstar's plethora of awards demonstrates that the investment manager has maintained its investment focus despite the high-profile departure.

"These wins, on top of being a strong contender in the domestic equities category, all make Perpetual Investments more than worthy of our highest accolade," Morningstar co-head of research Tim Murphy says.

Winners are determined by a combination of qualitative research by Morningstar's fund analysts, risk-adjusted medium to long-term track record, and performance in the 2012 calendar year.

The qualitative assessment process includes looking at factors such as the quality of people, process, philosophy and style, as well as business and investment disciplines demonstrated during 2012 and in the longer term.

Funds with less than a three-year track record are not included. Morningstar says the objective is to choose fund managers who have delivered consistently strong returns - not just an impressive one-year return.

"The winners in the Australian Morningstar Awards 2013 have all shown themselves to be first-class stewards of their investors' capital. The quality of their people, process, philosophy and investment style are testament to this, and this continues to enable them to provide outstanding results for their investors," Murphy says.


And the winners are ...

Australian Fund Manager of the Year 2013 - Perpetual Investments

Perpetual's well-established investment approach implemented by its team of experienced investors enabled the firm to deliver commendable returns across its broad business in 2012. A penchant for quality has been key to the firm's success, while careful management of wider corporate challenges in recent years to ensure minimal impact on managed fund investors reflects well on Perpetual's underlying processes.