In a year when asset managers saw red on the markets, PSG Asset Management outpaced Ninety One to be named the best asset management firm in the country in the 27th edition of the Raging Bull awards.
Ninety One, which was the asset management arm of Investec until 2020, has held the title of best manager for two consecutive years. It was ranked second in the latest awards, while H4 Collective Investments came in third place.
PSG Asset management, although a significantly smaller player compared to Ninety One, is no stranger to the top three and has previously been placed second a number of times.
At the end of August 2022, PSG had assets under management worth R41.9 billion, compared to R2.7 trillion at Ninety One.
The Raging Bull Awards, dubbed the Oscars of the investment industry, recognise the top unit trust funds and managers over three to five years.
Over a three-year performance, PSG scooped two awards out of four in the segment, with its Diversified Income Fund and Global Equity Feeder Fund getting recognition.
The list of Raging Bull Award winners is:
Award for straight performance over three years:
Best South African equity general fund: Investec BCI Dynamic Equity Fund
Best South African interest-bearing fund: PSG Diversified Income Fund
Best (SA-domiciled) global equity general fund: PSG Global Equity Feeder Fund
Best (FSCA-approved) offshore global equity fund: Anchor Global Equity Fund
Award for risk-adjusted performance over five years:
Best South African general equity fund on a risk-adjusted basis: Counterpoint SCI Value Fund
Best South African multi-asset equity fund on a risk-adjusted basis: Amplify SCI Wealth Protector Fund
Best South African multi-asset flexible fund on a risk-adjusted basis: Bateleur Flexible Prescient Fund
Best (FSCA-approved) offshore global asset allocation fund on a risk-adjusted basis: Investec World Axis Cautious Fund
Credo, a global independent wealth management firm with locations both in South Africa and the UK, was named offshore manager of the year. Represented by more than 7 000 client accounts, the company has assets under custody in excess of £4.3 billion (R94 billion), with £1.2 billion (R26 billion) of that in assets under management.
This article is originally from MoneyWeb.