Top CIS management companies of 2013

Among ASISA-registered CIS managers, Coronation had the third highest rating in the South African Interest Bearing category with 4.945 PlexCrowns. It also had the fourth highest weighted average rating in the categories Global & Worldwide (4.236 PlexCrowns), South African Equity & Real Estate (4.101 PlexCrowns) and South African Multi Asset (4.799 PlexCrowns).

In total, 14 of Coronation’s 17 rated funds had above-average ratings of 4 and more PlexCrowns. The Coronation Industrial Fund took the honours in its subcategory, while the management house’s Financial, Balanced Defensive, Jibar Plus and Optimum Growth funds were runners-up in their subcategories.

At the Raging Bull Awards ceremony, five of Coronation’s funds won accolades. Judged on their performance over three years, these Coronation winners in their subcategories were the Strategic Income, Global Capital Plus (ZAR) Feeder, Global Managed (ZAR) Feeder, Optimum Growth and Global Managed (USD) funds. The Coronation Strategic Income Fund also won the Raging Bull Award as the best South African Interest Bearing Fund over three years.

Allan Gray, which won the 2014 Raging Bull award for the second best South African CIS management company of the year, achieved a rating of 4.147 PlexCrowns in the December quarter.

The investment house shared the lead with Oasis in the South African Interest Bearing category with a full-house of 5.000 PlexCrowns. It had the fifth highest rating in the Global & Worldwide category with 4.037 PlexCrowns and shared fifth place with Ashburton, Kagiso and Prudential in the South African Equity & Real Estate category with 4.000 PlexCrowns.

Four of Allan Gray’s seven rated funds had above-average ratings of 4 and more PlexCrowns. The Allan Gray Bond Fund was the leading fund in the South African Interest Bearing Variable Term subcategory and the Allan Gray-Orbis Global Equity Feeder Fund was the runner-up in the rand denominated Global Equity General subcategory. The Allan Gray Bond Fund received a Raging Bull accolade as the best South African Interest Bearing Variable Term Fund on a risk-adjusted basis over three and five years combined.

In third position was Nedgroup Investments. The management company’s rating was underscored by a fourth-highest rating of 4.590 PlexCrowns in the South African Interest Bearing category and fifth spot in South African Multi Asset category with 4.628 PlexCrowns.

Nedgroup Investments’ Core Income, Entrepreneur and Financials funds were rated tops in their subcategories, while its Stable Fund ranked third out of 60 funds in the South African Multi Asset Low Equity subcategory.

Nedgroup received four Raging Bull accolades for funds that had the highest returns over three years in their respective subcategories, namely its Financials Fund, Mining & Resources Fund, Entrepreneur Fund and Property Fund. The Nedgroup Investments Core Income Fund took the Raging Bull honours in its subcategory on a risk-adjusted three and five-year basis.

Ending the December quarter with the fourth-highest CIS management company rating of 3.923 PlexCrowns, PSG was a short head behind Nedgroup Investments. PSG excelled in the South African Equity & Real Estate category where it was runner-up with a weighted average rating of 4.304 PlexCrowns.

Eight of PSG’s 12 rated funds had above-average ratings of 4 and more PlexCrowns. The PSG Equity Fund had the third-highest rating among 89 rated funds in the South African Equity General subcategory. The PSG Balanced Fund ranked fifth out of 64 funds in the South African Multi Asset High Equity subcategory.

Foord did not qualify for a CIS management company rating as it had no rated funds in the South African Interest Bearing category. However, Foord’s record is impressive in all the major categories or asset classes where it has a presence. The investment house had the highest rating in the South African Equity & Real Estate category and held joint first place in the South African Multi Asset category with Ashburton and Rezco. Foord also held the third-highest management company rating of 4.246 PlexCrowns in the Global & Worldwide category.

FirstGlobal ranked tops among companies with underlying funds administered by a registered management company that met the requirements for an overall rating. Had the company been a registered management company, FirstGlobal’s overall rating of 3.229 PlexCrowns would have earned it sixth place overall.

The Sanlam India Opportunity Feeder Fund led the way in the fourth quarter with a total return of 14.80%, income distributions reinvested. The Old Mutual Global Equity Fund and Sanlam Global Equity Fund followed with 14.23% and 14.16% respectively.

Global funds again dominated the top of the return table for the 12 months and three years to the end of December, with the Allan Gray-Orbis Global Equity Feeder Fund in first and third place over one year and three years respectively. The Old Mutual Global Equity Fund was first over three years and second over one year. The passively managed Satrix INDI Portfolio ETF was the leading fund over five years, while the Coronation Industrial Fund was the leading actively managed fund with a return of 28.45% per year with dividends and income reinvested.

Among FSB-approved offshore funds, the Franklin India Fund produced the highest return of 16.57% in terms of SA rand for the fourth quarter, followed by the Contrarius Global Equity Fund in second place with 16.39% and the Templeton Euroland Fund with 15.34%.

The Franklin Biotechnology Discovery Fund was the best performing FSB-approved foreign fund over the one, three and five-year periods.

Lloyds walked away with the honours at the Raging Bull Awards ceremony as top offshore management company of 2013.

Lloyds’ top rating of 4.370 PlexCrowns was supported by top spots in the Global Asset Allocation Flexible and Global Fixed Interest Other Income categories. The Lloyds Multi Strategy Fund Limited Growth Strategy was the top-rated FSB-approved fund in the Global Asset Allocation Flexible category, while the Lloyds Investment Funds Limited High Income Fund led the pack in the Global Fixed Interest Other Income category.

The Lloyds Investment Funds Limited North American Fund won a Raging Bull accolade as the best FSB-approved Offshore USA Equity General Fund based on three-year returns. The Lloyds Multi Strategy Fund Limited Growth Strategy won the Raging Bull Award as the best FSB-approved Offshore Global Asset Allocation Fund based on risk-adjusted returns over three and five years combined.

Oasis achieved the runner-up position with an overall offshore rating of 4.125 PlexCrowns. The Oasis Crescent Global Property Equity Fund (Ireland) rated tops among the FSB-approved funds in the Global Real Estate General category. The fund won Raging Bull accolades as the best FSB-approved Offshore Global Real Estate General Fund on a three-year return as well as on a risk-adjusted return basis over three and five years combined.