UBS Global Asset Management(UBSGAM) has taken out the most prestigious prize in the funds management industry, winning the overall title in the Money Management / ASSIRT Fund Manager of the Year Awards 2002, announced in Melbourne last night.
The win in the overall award category came on top of three wins in the sector classes of Australian fixed interest, multi-sector and property security funds as well as a finalist nomination in the Australian equities class.
For UBSGAM the win is a highpoint of its time in Australia. Until last year the group had not been named in any category in the awards but since then has been garnering more acclaim, including a five star rating fromASSIRTin Australian equities.
According to UBS Global Asset Management’s chief executive officer John Larum, being awarded the overall fund manager of the year reinforces the message coming from the independent asset management groups that they can get the results.
“This is fantastic. I am so delighted to accept this on behalf of a great team. This is a great awards night in recognition of the achievements of the industry.”
Larum says being named Fund Manager of the Year demonstrated just how well the business interests were aligned with the interests of their clients.
However, he rejects the notion that the award only recognises the fund manager’s achievements of the past year.
“I am very happy to defend and proclaim our performance over three and five years as well as last year’s past performance,” Larum says.
This year’s award also marked a departure from the ‘brand name’ managers, who despite a sizeable presence in the finalist nominations only won a single category, mortgages, which was taken out byPerpetual.
Apart from the two Swiss based managers other newer names includedInvestor’s MutualandBarclays Global Investorsas well as the return ofTyndallandAdvancewho have not featured as finalists in some years.
Investors Mutual Limited’s managing director Anton Tagliaferro says with the group taking out the Australian equities fund manager of the year award andPlatinumbeing awarded the international equities fund manager of the year, a very strong message is being sent to the market.
“It is an incredible achievement for a smaller company, relative to the big names. It sends a very good signal to the industry,” he says.
Tagliaferro says the team of 16 put in a lot of hard work to achieve the results that has enabled them to stand out from other fund managers.
“We have worked hard over the past four years and have been attracting very good inflows with new records set each month. But you’ve got to keep performing well,” he says.
Tagliaferro says the result highlights the potential and ability of smaller fund managers to achieve good results.
While the issue of size is often discussed in the industry, with the benefits of a larger fund manager emphasised, he says the fact Investor Mutual Limited have won the award, may provide more balance in the debate.
The winners of each category of the awards appear below.
Overall winner: UBS Global Asset Management
Australian Shares: Investors Mutual
Multi-sector: UBS Global Asset Management
Mortgages: Perpetual Investments
International Shares: Platinum Asset Management
Property Securities: UBS Global Asset Management
Australian Fixed Interest: UBS Global Asset Management
