FIDELITY wins overall, one, three and five-year European fund categories; legg mason wins offshore
Fidelity was this year"s overall group winner of the Standard & Poor"s European Fund Awards 2004, while Legg Mason scooped the equivalent prize in the offshore segment.
Fidelity also won the larger group category for the European Awards for the one, three and five-year periods. In second place for the three and five-year time periods was DWS, while Franklin Templeton came in second place for the one-year period. In third position was Mellon Group for the one- and five-year category and Franklin Templeton for the one-year.
Morgan Stanley Investments came in first for the five-year category in the specialist (smaller) group, in second was GAM Fund Management and in third was WestLB Asset Management.
For the Offshore Awards, Legg Mason, as well as winning the main award, won the smaller group for the one-year period, with Newton Fund Managers trailing in second. JF Funds came in first for the five-year period with Hermes behind in second.
In the one-year category for larger groups Royal Skandia Life came out in front with Hansard second. Threadneedle was the winner for the five-year period, with HSBC coming in second.
The Offshore Fund Awards are calculated for funds domiciled within offshore territories, but not including Luxembourg and Dublin domiciled funds, which are now part of the fund universe for the S&P European Fund Awards.
For the European Awards Standard & Poor evaluates individual funds as well as group performance. Groups are assessed over several time periods and within a larger or specialist group category defined by the number of funds, number of sectors and performance in certain core sector/markets.
In previous years the awards have been calculated on a purely quantitative basis, but this year the Standard & Poor"s Fund Management Ratings team - which conducts in-depth interviews with fund managers to devise qualitative ratings - also participated in the awards granting process.
Group award winners will receive their trophies at a presentation dinner on the 11 May at the Hotel Intercontinental in Frankfurt, which will take place after the International Investment Forum, Frankfurt 2004.
Two global vehicles
'Further plug advice gap'
Must appoint separate CEOs and boards
Advisers do come out well
Will report to Mark Till