Fund manager of the year – Income trusts
1st: Norwich Union
2nd: Citicorp
3rd: ANZ
A continuing environment of low interest rates has made outperformance in income trusts progressively more challenging.
But this year's winner, Norwich Union, has proved that focus on two key areas - mortgage funds and bond funds - can do well under the toughest conditions.
"Good fixed interest and mortgage managers can add value in this sector," says Patrick Bennett, ASSIRT's manager of research. "But the difference between a good and a bad manager in this category can be a matter of basis points."
Norwich Union improved on its second place last year to take this year's income trust award. According to ASSIRT, the Norwich Investment Trust Mortgage Plus No 2 ($103 million) performed solidly, while Mortgage Plus No 3 ($39 million) outperformed significantly.
Norwich's Australian Fixed Interest Investment Trust, with $54 million under management, returned well above the cash rate for both one-year and three-year periods, with its best returns over three years.
Runner-up Citicorp had just a single product offering in this category, the $112 million CitiIncome Investment Portfolio, which had extremely consistent outperformance over one and three years. Third-placed ANZ did well with its $25 million ANZ Bond Trust and huge $621 million ANZ Mortgage Fund.
Recommended for you
Two former senior Global X employees have launched their own ETF provider, ETF Shares, focused on offering index ETFs for advisers and retail investors.
With GCQ Funds Management and Lakehouse Capital making their recent ETF debuts, the two fund managers unpack why financial advisers are essential to their respective launches.
ETF provider Global X is set to launch its latest ETF, focused on artificial intelligence infrastructure.
Index provider MSCI has unveiled two measures to make it easier for financial advisers and wealth managers to access transparent insights into private assets.