TOWER has been announced today as the 2007 Fund Manager of the Year in the FundSource Managed Fund Industry Awards. The FundSource Awards, which are the longest standing Awards in the NZ retail managed fund industry with a 16 year history, reward excellence in funds management capability among New Zealand based funds management companies.
Winners for both the overall Fund Manager of the Year and the Sector Awards were announced; with the latter acknowledging funds management capability within specific fund sectors.
The 2007 title for TOWER as FundSource Fund Manager of the Year brings TOWER’s tally of wins for the last seven years to three, with wins in 2004 and 2005. The competition was tight, with ING (NZ), who won the FundSource Fund Manager of the Year title in 2006, coming in a close second position for the top Award, followed by AXA who gained the third position.
Nomination for the FundSource Awards requires the fulfilment of a rigorous set of criteria, including a disciplined approach to investment management, the ability to retain skilled resources across various asset sectors and the ability to deliver consistent performance. The winners are then selected on their ability to deliver superior risk adjusted performance relative to their peers. All the elements within the Awards are embedded within FundSource’s ongoing qualitative and quantitative research process made available to fund managers and financial intermediaries.
In terms of the Sector Awards, ING (NZ), TOWER and Guardian Trust featured in four, three and three sector categories respectively. Tyndall Investments also featured in three sectors as sub-manager of some Guardian Trust and Asteron funds.
The following are the results of the Sector Awards:
| Sector |
Winner |
Runner up |
| NZ Cash |
ING (NZ) |
AXA |
| NZ Mortgage |
Fund Managers Canterbury |
Mortgage Fund Managers |
| NZ Equity |
Fisher Funds |
TOWER |
| NZ Equity (Australasian) |
Guardian Trust (/Tyndall) |
None |
| International Equity |
Guardian Trust (/Tyndall) |
TOWER |
| NZ Fixed Interest |
Asteron Life (/ Tyndall) |
ING (NZ) |
| International Fixed Interest |
AXA |
None |
| Diversified Balanced |
TOWER |
ING (NZ) |
| Diversified Growth |
ING (NZ) |
Guardian Trust |
FundSource is a wholly owned subsidiary of the New Zealand Exchange Limited (NZX), and has been providing investment research and consultancy services to financial intermediaries and fund managers in New Zealand and Australia since 1987.
For more information contact:fundsource@fundsource.co.nz
