The Fund Manager of the Year Awards 2015/16 are based on a two-step process.
The first step involves a quantitative screening, done with the assistance of Lipper, a Thomson Reuters company, to identify the shortlisted funds per Awards category. The second, qualitative step involves 10 fund selectors from across Europe picking out their preferences from the shortlists, to identify the winning funds.
The fund and fund manager together must have a three year track record to 31 May 2015, 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, Scandinavia (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:
Emerging Market Debt
Global Emerging Markets
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.
The shortlists will be forwarded to InvestmentEurope’s judging panel of 10 fund selectors from across Europe. They will use a secure web link to vote individually and confidentially, ranking candidates and adding comments which may be used for winner’s citations.
InvestmentEurope Industry Personality of the Year Awards 2015/16
Using an online survey tool, fund selectors across Europe were asked a set of questions to ascertain their views on who has done most to contribute to the fund selector community across Europe.
The survey was designed to understand who had done most in individual markets, but also to find out who may be the Industry Personality of the Year across the region.
Participants in the survey were asked:
o In which market/region do you work? (select one answer)
o Name up to three of your peers who you feel have done most to push forward the role of the fund selector in your market/region
The resulting data were analysed to find out firstly if there were any names put forward repeatedly for the relevant markets/regions, and whose names were put forward by those acting in the same market/region. This was to identify support from same-market peers.
Those whose names appeared most times were identified as the market/region winners. Names identified as having been put forward repeatedly by colleagues in the same organisation were not rated as highly as names put forward by other selectors or those working in other organisations.
For the overall Personality of the Year Award, the individual market/region category winners were analysed for factors including:
o Relevant experience and time in the industry
o Relevant AUM for which they are responsible