The team at Financial Newswire is proud to announce that together with our research partner, SQM Research, we are bringing the wholly objective Fund Manager of the Year awards back for 2024 – recognising the best of the best across the Australian Wealth Management Industry.
Grand Ballroom
Four Seasons Hotel Sydney
199 George St, The Rocks
Sydney NSW
Dress Code
Business formal / Black tie
Thursday, 12 September 2024
6:00pm – 10:30pm
Methodology
For the 2024 Fund Manager of the Year Awards with Financial Newswire, SQM Research has once again collated performance data on well over 10,000 active funds. As SQM Research is a believer in performance over time taking into account the risks, data was initially collated and sorted on an equal weighting combination of three-year annualised net returns and three-year sharpe ratios (risk adjusted returns). A final ten list of ten funds for each category (global equities, domestic fixed income etc) was then derived. Data was collated through to 31 May 2024.
Finalists were then chosen from the top ten in each category based on the best Sharpe ratio. Where performance was close between two or more funds, the total return was considered as well as any relative rating with SQM Research.
Where risk adjusted returns are not easily available, such as some alternative funds, direct property/ETFs, SQM Research has used its current ratings as a guide plus three year total returns where available.
The emerging funds category was based on annualised returns plus the Sharpe ratio for a combination of one year and since inception data. Emerging funds were defined as funds with a greater than one year track record but less than three years track record.
Overall Fund Manager of the Year Award
Finalists for the Fund Manager of the Year was based on the frequency of products that made the initial top ten list of each category.
The overall winner was based on a scoring of how many winners/commended categories plus finalist positions the fund manager held via its funds.
International/Global Equity, Infrastructure and Real estate categories for 2024 include both hedged and unhedged funds and adjust for the difference between the unhedged and hedged benchmark. Where a manager has both hedged and unhedged funds, we will take the average of the two (one adjusted by the benchmark differences) for comparison purposes and only Include the Manager’s fund once.
The entire universe of managed funds is screened using the following filtering rules.
Minimum Fund Size
$30 million
Minimum Investment
Excludes funds with $100,000 minimum or greater
Investment Structure
Open-Ended Managed Funds and ETFs
History
Minimum 3 years track record
Type
No duplicates or white-labelled products
The methodology focuses on growth-oriented funds with good risk-adjusted returns. The filtering process reduces the starting universe of over 10,000 funds down to a subset that will typically be in the range of about 500-600 funds.
The following 8 metrics are the constituents of the overall score.
3-Year Returns
Performance
3-Year Volatility
Risk
3-Year Alpha
Skill
3-Year Sharpe Ratio
Risk-adjusted Return
MER
Cost Efficiency
ICR
Cost Efficiency
Downside Capture
Risk
Hit Rate
Consistency
Each metric has a ranking score calculated for each fund. A score of 100 is the best result across the universe for that metric, and a score of 0 is the worst. The 8 ranking scores are aggregated into an overall score for the Fund. These overall scores (for 500 or so funds) are then used to identify the Top 10.
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