Morningstar Announces Winners for 2023 Morningstar Fund Awards – South Africa

March 23, 2023

Morningstar Announces Winners for 2023 Morningstar Fund Awards – South Africa

 Cape Town, 23 March 2023 -- Morningstar, Inc. (Nasdaq: MORN), a leading provider of independent investment research, today announced the winners for the 2023 Morningstar Fund Awards – South Africa. The awards recognise those funds and asset managers that have served investors well over the long-term.

Truffle Asset Management scooped two awards, both for the second year in a row. The first for its Truffle SCI Income Plus Fund being awarded the Best Bond Fund under the fund category awards, and the second being named the Best Fund House: Smaller Fund Range in the fund house category. Nedgroup Investments also celebrated two fund category wins this year, receiving the Best Aggressive Allocation Fund and Best Moderate Allocation Fund awards.

The annual Morningstar Fund Awards recognise those funds and asset managers that added the most value for investors within key sectors and across asset classes. Morningstar selects the winners using a quantitative methodology and eligible funds require a five-year performance track record. Weightings of one-, three-, and five-year performance are factored into the methodology, along with a qualitative overlay.

“The Morningstar Fund Awards commends funds and asset managers that served investors well by delivering top-notch risk-adjusted performance for investors in 2022 and over longer time periods. Morningstar’s extensive datasets and quantitative methodology are used to determine the winners across equity, fixed income, and multi-asset categories within South Africa for investors,” said Tal Nieburg, Managing Director of Morningstar South Africa.

The 2023 Morningstar Fund Awards – South Africa winners are:

Morningstar Category Awards

Winner

Best Aggressive Allocation Fund

Nedgroup Investments Managed

Best Bond Fund

Truffle SCI Income Plus

Best Cautious Allocation Fund

Sanlam Multi Managed Cautious FoF

Best Flexible Allocation Fund

Gryphon Prudential Fund

Best Global Equity Fund

Schroder ISF Global Sust Gr C Acc USD

Best Moderate Allocation Fund

Nedgroup Investments Balanced

Best South Africa Equity Fund

 

Merchant West Investments SCI Value*

(*formerly known as Counterpoint)

 

Morningstar Fund House Awards

Winner

Larger Fund Range       

CoreShares

Smaller Fund Range

Truffle Asset Management

 “Congratulations to all our 2023 Fund Award winners! The awards celebrate those funds which have earned strong one-year results and have also shown they can earn strong long-term returns without undue risk,” Nieburg added. 

 Methodology

 The Morningstar fund category and fund house awards are based on Morningstar fund data as of 31 December 2022. The awards methodology emphasises the one-year period, but funds must also have delivered strong three- and five-year returns after adjusting for risk within the award peer groups in order to obtain an award. In selecting winners, fund returns are adjusted for risk using the Morningstar Risk, a measure which imposes a higher penalty for downside variation in a fund’s return than it does for upside volatility.

The full methodology for the awards is available here.

For Morningstar Fund Awards enquiries, kindly contact Morningstar via awards.za@morningstar.com

About Morningstar

 Morningstar, Inc. is a leading provider of independent investment insights in North America, Europe, Australia, and Asia. The Company offers an extensive line of products and services for individual investors, financial advisors, asset managers and owners, retirement plan providers and sponsors, and institutional investors in the debt and private capital markets. Morningstar provides data and research insights on a wide range of investment offerings, including managed investment products, publicly listed companies, private capital markets, debt securities, and real-time global market data. Morningstar also offers investment management services through its investment advisory subsidiaries, with approximately $246 billion in assets under advisement and management as of Dec. 31, 2022. The Company operates through wholly- or majority-owned subsidiaries in 32 countries. For more information, visit www.morningstar.com/company. Follow Morningstar on Twitter @MorningstarInc.

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