Ninety One and H4 Collective Investments received the runners-up awards.
PSG Asset Management won the South African Manager of the Year award at the Raging Bull Awards for performance to the end of 2022. The awards committee handed out the awards during a ceremony in Cape Town.
The manager, headed by CEO Anet Ahern, also took home several fund-specific awards. The PSG Diversified Income fund won the best SA multi-asset income fund award for straight performance over three years. In addition, the PSG Income fund is the best SA interest-bearing short-term income fund based on five-year risk-adjusted performance.
Over the same period, the PSG Global Flexible feeder fund was the best SA-domiciled global multi-asset flexible fund.
PSG runs a single process, often described as quality at a reasonable price. After challenging years in 2018 and 2019, it has performed well across all major sectors, SA equity, global equity, multi-asset and fixed income.
This was the first live Raging Bulls event since 2020. The event organisers streamed it over the internet during the 2021 and 2022 events due to the Covid-19 pandemic.
Eight Raging Bull trophies and 30 Raging Bull Certificates went to individual funds in local and offshore categories for straight performance over three years to the end of 2022 and risk-adjusted performance over five years.
PSG Asset Management’s sister company PSG Wealth won in the best multi-asset low-equity category for the PSG Multi-Management Cautious fund of funds over three years.
This year the Raging Bull committee did not neglect the micro boutiques. The Blue Quadrant Worldwide Flexible Prescient fund, run by Citywire AAA-rated manager Leandro Gastaldi was the best-performing worldwide flexible fund over three years.
Gastaldi’s tilts towards energy and European banks have paid off.
The runners-up for the South African Manager of the Year was Ninety One. It won the best SA-domiciled global multi-asset high-equity fund (over five years on a risk-adjusted basis) for the Ninety One Global Strategic Managed feeder fund.
H4 Collective Investments, which hosts managers such as Citadel Asset Management, All Weather Capital and Peregrine Capital, was in third place. However, it did not win any certificates or trophies for individual funds.
The Offshore Manager of the Year award went to Credo Group, a London-based global investment management business with offices in South Africa, which markets three offshore funds to South African investors. These are the Credo Global Equity fund and two multi-asset funds, the Credo Growth fund and the Credo Dynamic fund.
Credo’s CIO, Deon Gouws, (pictured above) is a former CIO and CEO of RMB Asset Management.
PSG won two of the eight Raging Bull trophies for the PSG Diversified Income fund and the PSG Global Equity feeder fund.
The other trophies went to boutique managers, a newcomer to the awards Investec Wealth & Investments won for straight performance over three years in the SA general equity category for the Investec BCI Dynamic Equity fund, managed by Citywire AAA-rated Barry Shamley.
The Investec World Axis Cautious fund, a multi-manager fund, was the winner for risk-adjusted performance over five years in the offshore global asset allocation category.
Over three years of straight performance, the Anchor Global Equity fund (available in South Africa as the Anchor Global Equity feeder fund) was the winner.
This is a significantly different portfolio from the PSG Global Equity fund. The only overlap is that both funds own an oil major – Exxon Mobil in the case of the Anchor fund and Shell in the case of the PSG portfolio. Otherwise, the Anchor fund invests in ‘quality’ US names such as Hershey, Pepsi and Coca-Cola, with a few tech names such as Tesla and Shopify.
It is hard to imagine Tesla making the PSG shortlist as the asset manager invests in out-of-favour quality names such as Prudential, its former US subsidiary Jackson Financial, and Anheuser-Busch InBev.
Truffle Asset Management, one of the standout managers of the past few years, won in the best SA multi-asset equity category over five years for the Amplify SCI Wealth Protector fund.
One of the stalwart flexible funds in South Africa, the Bateleur Flexible Prescient fund was the best SA multi-asset flexible fund over five years,
The Raging Bull Awards are hosted annually by Independent Newspapers’ Personal Finance magazine in partnership with data providers ProfileData and PlexCrown Fund Ratings.
Martin Hesse, Personal Finance editor, said: ‘Congratulations to PSG Asset Management, which has come so close so often to winning.’
This article is originally from Citywire.