Ranking the Fund Managers
Winning funds and their formula
Coronation Bond took the sole fixed income award in the category
Morningstar believes that less is more when it comes to fund awards. Categories with limited interest such as specialist equity have not been given awards. Instead there is a tight range of seven categories, which are unchanged from 2016. They do not precisely correspond with the Association for Savings & Investment SA categories, but there will be substantial overlap between the Asisa High Equity and the Morningstar Aggresive Allocation category, Medium Equity and Moderate Allocation, and Low Equity and Cautious Allocation. Flexible draws on funds in both the Worldwide and SA Flexible categories. Morningstar looks at a single SA registered-for-sale universe, and in line with international practice it does not separate locally registered and offshore funds into separate awards buckets. There is only one fixed income award, which this year was given to Coronation Bond, which was just ahead of the Allan Gray Bond Fund. Co-manager Nishan Maharaj says some of the excess return is attrib...
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