Fund Manager of the Year 2014: Global Equities (Regional and Emerging Markets)
Winner
Macquarie Asia New Stars No.1 Fund
Finalists
BT Global Emerging Markets Opportunity Fund
Fidelity Asia Fund
Macquarie’s Asia New Stars No.1 Fund has won the global equities (regional and emerging markets) category at this year’s Money Management/Lonsec Fund Manager of the Year awards.
Macquarie Asia New Stars portfolio manager Sam Le Cornu said the fund outperformed across both rising and falling markets by identifying very high quality and low risk companies trading well below their intrinsic value.
“In the higher risk Asian region, our risk-averse approach is our strength and has helped deliver strong return outcomes. The success of the last 12 months rests not only on the stocks we included in the portfolio but also on the stocks we have left out,” Le Cornu said.
BT Investment Management gained a place as finalist with its Global Emerging Markets Opportunity Fund.
For portfolio managers James Syme and Paul Wimborne, a top-down, country-driven approach paying particular attention to political and macroeconomic situations in the countries they invested in, led to strong returns in a difficult year for emerging market equities.
“We have nearly 40 years of experience between us and it is our overwhelming experience that emerging markets go right or wrong at the country level. Last year was a year where the strength of that approach came through,” said Syme.
Fidelity’s Asia Fund secured a finalist place in this category for the second consecutive year.
Portfolio manager David Urquhart attributed benchmark outperformance in the last 12 months to balancing exposures across the fund’s investment universe - which encompasses both emerging and developed markets - and uncovering attractively valued companies within this opportunity set.
“The success of the company is going to be the key driver of returns. A really good company has the ability to handle a macroeconomic environment that is somewhat changeable. Those strong fundamentals will win out ultimately,” he said.
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