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LONDON • 6 DECEMBER 2018

CELEBRATING GREAT PERFORMANCE ACROSS EUROPE

Methodology

The Fund Manager of the Year Awards 2018/19 are based on a two-step process.

The first step involves a quantitative screening, done with the assistance of Refinitiv Lipper, to identify the shortlisted funds per Awards category. The second, qualitative step involves fund selectors from across Europe picking out their preferences from the shortlists, to identify the winning funds.

Quantitative screen
The fund and fund manager together must have a three-year track record to 31 May 2018 to measure cumulative return.
Performance is assessed over each year discretely, and then weighted the following way:
30% weighted to performance in the last 12 months (Year 3)
40% weighted to performance in Year 2
20% weighted to performance in Year 1
10% weighted according to the three-year Sortino Ratio
The fund must be for sale in at least two (2) of InvestmentEurope’s core markets: France, Germany, Iberia (Spain and Portugal), Italy, Nordics (Norway, Sweden, Denmark, Finland) and Switzerland, and be a minimum size of €100m.
The higher weighting toward Year 2 takes into account the mean reversion risk as more money tends to come into funds as they pass into a three-year-plus track record.
The weighted calculation gives the fund an aggregate score out of 100, which will determine its position in the category rankings.

The quantitative screen will be used to identify up to 7 funds in each category, which will make up the shortlist in the following categories:

Equities
Europe
North America
Global
Global Emerging Markets
Frontier
Single Country
Asia Pacific
Japan

Fixed Income
Corporate Bonds
High Yield
Global Bonds
Emerging Market Debt
Convertible Bonds
Money Market/Short Term Bonds

Multi Asset
Hedge Funds
Real Estate
Commodity
ETFs

Additionally, there are two categories that are not shortlisted through the initial quants screening, which are Specialist Group of the Year, and Investment Group of the Year.

Qualitative Screen
For the second, qualitative stage in the process, this year InvestmentEurope joined with SharingAlpha (www.sharingalpha.com) to use the latter’s fund and fund selector ratings platform to gather preferences expressed by fund selectors from across the region. These qualitative preferences were aggregated to identify the eventual category winners.

Methodology for Fund Selector Personality of the Year

Also done through the SharingAlpha platform, through which fund selectors could nominate peers. The nominations were cross-checked against factors such as length of service in the industry and levels of AUM responsibility.