Wealth Strategies: Equity managers more challenged-Tjornehoj
Thursday, March 14, 2013 - 03:43
Mar. 15 - Lipper's Jeff Tjornehoj says this year's Fund Award winners showed some sector and asset class rotation and found that equity fund managers seem to be more challenged than bond funds.
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Fund awards recognize the top American fund managers for outperforming their peers and this year's winners fall into some interesting categories. For more I'm joined by Jeff turn my head up Lipper America's research Jeff great to see here are you back here. Some of the criteria you use it judging award winners will we look at. Risk adjusted returns over a variety of periods three years five years ten years and then come out with winners and every category. Over those periods so we get on why consideration for all the different strategies out there. The different types of managers behind them everybody gets recognized to a degree as as long as you are outperforming appears. The last decade we know it's been -- they -- trips an interesting time its troops definitely. A what are the ten year award winners doing to stand -- -- that's a great question because we notice that there have been some repeat winners over three years five years ten years. That you would expect to be. Losing some traction maybe even 2008 was a pivotal year in investment history and I figured that when we got to the three year period for example where that you know that that's dropped off. We'd see some rotation among the winners. There are some standout managers out there who despite the turbulence in the market whether it was one -- it was going down. They maintain that number one position in their category and they really -- be commended. The trends that you've been noticing this year that stand out whether it's large caps for some small on the equity side or particular sectors that caught your eye when you're putting together some of -- At Portland yet we have seen a bit more rotation on the equity side I think it's been a challenge for equity managers. More so than bond managers we've seen now for instance -- Delaware short duration. I'm sorry extended duration -- Do a great job repeating their status as their top category. Among their peers. The little more rotation and some other groups and small cap. We saw at Iran -- who who won the three year last year when a five year this year given the three year spot somebody else they were close but you know that doesn't count. What are some of the highlights for you to send. You know seeing some of these firms repeat. They're winning ways not only with individual funds that's for the firm over also for example. Can go one for the fourth year in a row as the top equity manager not a category than most people would expect them to excel. Did you think about these fund managers that are repeat winners is this about her style that personality there approach. That's harder to get a feel for because everybody's approaches little bit different there's something in the DNA it can -- that leaves and just great success in a number of areas. Not only did they win top large equity manager that they have a lot of individual bond funds and not the ones you might expect but they've been repeat winners as well over. Three years five years -- repeating from last year so they've done a great job with individual. Bond funds and an overall equities are also out performing so. There are just some firms that seem to have that dialed in right now. Now and I should point out too it's not just the big firms it's not just in New York centric from this really recognizes managers all across the it does -- yet we have no -- we ambivalent about where they're located so it's not. A matter of being in the financial center of the universe you can be anywhere we've recognized firms from from California to -- Rhode Island. So we make a point to say we don't care. How he did it. As long as you are excellent will recognize him but stepped up fine thanks so much thanks for having. I'm Rhonda -- this is writers.
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