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LONDON • 29 NOVEMBER 2016

CELEBRATING GREAT PERFORMANCE ACROSS EUROPE

Methodology

The Fund Manager of the Year Awards 2016/17 are based on a two-step process.

The first step involves a quantitative screening, done with the assistance of  Thomson Reuters 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 2016 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:

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

This year the qualitative screening has been adjusted to facilitate the participation of more judges across the region.

Partnering with SharingAlpha, the platform provider that facilitates user-generated ratings of both funds and fund selectors, InvestmentEurope has approached over 100 fundselectors, who have used a web portal, through which they can express their preferences in each of the Awards categories.