Announcing the winners in the annual Research IP Fund Manager of the Year Awards held on 2 December.
Congratulations to the team at Milford Asset Management, taking out this year’s coveted Fund Manager of the Year 2021 Award.
Since the 2016 FundSource Awards Milford Asset Management have consistently been shortlisted, finalists and winners in several sector category awards, and major categories such as the Longevity and KiwiSaver awards. In another year that has seen the effects of COVID 19 linger longer and sustained lockdowns, 2021 has seen strong positive fund flows despite a backdrop of challenging market conditions. Milford Asset Management have shown strong performance across the sectors and major categories.
The Milford Story
A big congratulations from the team at Research IP to the growing team at Milford Asset Management on the success at the Research IP Awards 2021, held online on December 2nd.
Darren remembers walking into the Milford Auckland office for the first time in 2008. A small office was all that was needed at the time. The team was very small. Brian Gaynor and Anthony Quirk attended the meeting, while at the time Darren represented a financial advice business. There was a spring in the discussion, you could also see it in their eyes at the first meeting, they were onto something and wanted that to grow.
A few months later, Jonathan Windust had just joined the team, maturing under Brian’s guidance to become portfolio manager of the award winning Active Growth Fund, and now Deputy CIO of the group.
There was a little bit of a break as Darren moved to Lonsec Research in 2010, but by the next meeting that year, William Curtayne had joined the small but growing team and is now the portfolio manager of an award winning fund that he has crafted over the years.
Over the course of the next 11 years the business continued to grow and it now employs over 140 people. An office was established in 2014 in Sydney and since then the Australian operation has been building out a distribution team across the country. It is an impressive story, and it has been amazing to watch it grow. Leadership has been handed over with Mark Ryland taking over the CEO responsibilities in 2019 after five years already with Milford. This is a business that has invested in its people and culture that is not often seen.
Milford was small in 2008. It has succeeded where some powerhouse fund managers of the day have disappeared. The two people that Darren first met are still involved, albeit not on a daily basis, but as Directors of the Board of an impressive business that is heavily engaged with their clients and delivers strong results. Congratulations Milford Asset Management, it’s a team effort.
About the Awards
The Research IP Fund Manager of the Year Awards are based on one-year returns and several additional factors to ensure the winners and funds shortlisted in each category were not “one-hit wonders”.
Research IP is cognisant that investors may choose a fund because it is award winning but wants to acknowledge outstanding performance in the last 12 months. Through our rigorous process, we can ensure the best managers are awarded each year.
This year saw the Responsible Investment category lifted to become a major category. This recognises the importance of responsible investing in New Zealand. While factors are captured in our qualitative research, it was important to recognise the achievements of New Zealand fund managers, who are highly active in incorporating responsible investing, sustainability and impact into portfolios being managed on behalf of their clients.
The Adviser Choice awards continue to prove popular, with advisers choosing Fisher Funds in both the equities and property & infrastructure categories, Harbour was chosen for fixed interest, and Generate in the KiwiSaver category. This is a strong endorsement from the users of fund managers in the industry, where we aim to make the awards more inclusive.
A special mention also to the Fund Manager of the Year finalists. 2021 featured a different winner in each sector, other than Global Fixed Interest and Diversified Fund of the Year, which were both taken out by Milford Asset Management. Representation as a finalist or a shortlisting was a key factor in being eligible for Fund Manager of the Year. Each of the finalists and sector winners should be very proud of their achievement across the categories.
The Fund Manager of the Year is earned by consistently being present in shortlists for sector categories, transitioning to finalists, and then hopefully a win or two along the way. The importance of consistent performance, over not just one year but three years, made a difference in who made it through to the shortlisted funds in more than one category. These awards aim to shine a light on strong reliable performance across sectors for clients to invest in with confidence.
With very strong fund flows, the Boutique Fund Manager of the Year has seen some process changes given market growth which should help stand the test of time. We feel this is an important part of the market to recognise, however it is becoming increasingly difficult because of the significant inflows and market performance that the industry has seen. Congratulations to Salt Funds Management for taking out the title this year, and to the finalists, last year’s winner QuayStreet and Pathfinder Asset Management for their strong client focused outcomes.
The Longevity Award was not a reflection of the distance between Harbour’s location and the home of T. Rowe Price – the award highlights the strong risk adjusted return over the longer term that is coming from equities. Australian, New Zealand and global equities were represented throughout this category, though global equities triumphed this time around. Congratulations to Harbour T. Rowe Price Global Equity Fund for an outstanding achievement.
We look forward to the 2022 Awards, which hopefully will be a little more personal next year.
All the award winners and finalists, as well as a recording of the event are available on our dedicated Awards page.
https://research-ip.com/awards/fmoy-awards-2021/
Announcing the Winners and Finalists
Fund Manager of the Year
- AMP Capital Investors
- Fisher Funds Management
- Milford Asset Management – WINNER
KiwiSaver Fund Manager of the Year
- ANZ Investments
- Fisher Funds Management
- Milford Asset Management – WINNER
Boutique Fund Manager of the Year
- Pathfinder Asset Management
- QuayStreet Asset Management
- Salt Funds Management – WINNER
Longevity Award
- Harbour T. Rowe Price Global Equity – WINNER
- Pengana Harding Loevner International B
- Smartshares US Large Growth
Responsible Investment Manager of the Year
- Alphinity Investment Management
- Harbour Asset Management
- Pathfinder Asset Management – WINNER
Adviser Choice
Adviser Choice – Equities
- Fisher Funds Management – WINNER
Adviser Choice – Fixed Income
- Harbour Asset Management – WINNER
Adviser Choice – Property and Infrastructure
- Fisher Funds Management – WINNER
Adviser Choice – KiwiSaver
- Generate Investment Management – WINNER
Sector Winners and Finalists
Global Fixed Interest Fund of the Year
- Milford Global Corporate Bond – WINNER
- Russell Investments Global Fixed Interest
- Smartshares Global Bond
Australasian Fixed Interest Fund of the Year
- Harbour Enhanced Cash Retail – WINNER
- Milford Trans-Tasman Bond
- QuayStreet Fixed interest
Global Property & Infrastructure Fund of the Year
- AMP Capital Global Listed Infrastructure
- ANZ OneAnswer Single Asset Class International Property – WINNER
- Fisher Property & Infrastructure
Australasian Property Fund of the Year
- AMP Capital Australasian Property Index – WINNER
- Octagon Listed Property (formerly Forsyth Barr)
- Mint Australasian Property
Alternatives Fund of the Year
- Janus Henderson Global Natural Resources – WINNER
- Pathfinder Global Water
- Salt Long Short
Global Equities Fund of the Year
- Platinum International Brands
- Russell Global Opportunities NZ Hedged – WINNER
- Smartshares US Mid Cap
Australian Equities Fund of the Year
- Airlie Australian Share
- Fisher Australian Growth
- Hyperion Australian Growth Companies – WINNER
- Hyperion Small Growth Companies
Australasian Equities Fund of the Year
- Castle Point Ranger
- Fisher Trans Tasman Equity Trust
- Milford Trans-Tasman Equity
- Pie Australasian Dividend – WINNER
New Zealand Equities Fund of the Year
- Fisher New Zealand Growth – WINNER
- Octagon New Zealand Equities (formerly Forsyth Barr)
- Harbour NZ Index Shares
Diversified Fund of the Year
- ANZ Investment Funds Growth
- Mercer High Growth Portfolio
- Milford Australian Absolute Growth PIE – WINNER
- Milford Active Growth
Congratulations to all the award winners, finalists and fund managers shortlisted for the 2021 Awards.
Comments are closed