The 14 winners are to be announced in a ceremony held at the Royal Albert Hall on Tuesday 10 July
The Investment Week Fund Manager of the Year Awards takes place in just over five weeks time at the Royal Albert Hall in London.
There will be 14 awards with the winners decided by a judging panel consisting of Robert Burdett and Gary Potter of Credit Suisse, John Chatfeild-Roberts of Jupiter, John Husselbee of Hendersons and Investment Week's editor in chief Lawrence Gosling and editor Mark Colegate.
A quants screen was used to draw up shortlists in 12 categories. The final stage of the judging process involves the panel using the returned and completed questionnaires to reach a qualitative decision on the winners in each category.
Shortlists for the final two categories, an award for outstanding achievement in fund management and the group of the year award, are still in the process of being drawn up.
The quants screening uses the same principles as last year. All statistics are run to 31 March 2001 and performance figures are on a bid to bid basis with ex dividend income reinvested at ex dividend, not payment, date. To be eligible, each fund must have at least a three year track record and a manager who has been running the portfolio for the three years to 31 March.
The panel, using data supplied by Lipper, has screened out all portfolios with assets of less than £15m, along with all exempt and pension funds.
The categories are based on underlying Autif sectors as of April 2001. Lipper screened out the bottom 50% of funds on a total return basis over the 12 months to 31 March 2001. It then ran off three year discrete return figures for each fund as well as its three year information ratio, along with a percentile ranking.
The panel gave a 40% weighting to the most recent discrete year's percentile ranking, a 30% weighting to the preceding year, a 20% weighting to the year prior to that and a 10% weighting to the information ratio. The aim of this has been to give a bias in the final score to more recent performance.
The panel limited the nominees in each category to six, with the exception of the specialist sector where there are seven entrants because the panel felt the huge diversity of investment briefs within this category necessitated a longer list.
The award for outstanding achievement in fund management will be based purely on the qualitative judgement of the panel, which is still drawing up its shortlist. The fund group of the year award consists of both a quants and qualitative screen.
Lipper arranged all unit trusts and Oeics by fund management group rather than sector and ran the same three discrete year and information ratio statistics as in the other categories. To produce an average, Lipper added up the individual scores for each fund and divided this by the number of funds the group has.
For further information on the awards contact Mark Colegate at [email protected] Investment Week 4 June 2001
HL and Liberty SIPP slowest
Lifetime and annual allowances
'IFAs bore the brunt'
'Recovery or boom'