Auckland, 26 March 2024 -- Morningstar Australasia Pty Limited, a subsidiary of Morningstar, Inc. (Nasdaq: MORN), a leading provider of independent investment research, has today announced the winners of the 2024 Morningstar Awards for Investing Excellence in New Zealand. The annual Awards program, now in its 18th year, recognise and celebrate the best of the New Zealand fund management profession who are selected by Morningstar’s Manager Research analysts.

“2023 proved challenging for even the best investors – between the rate hiking cycle and the ongoing geopolitical uncertainty, it was a challenging year to navigate” said Michael Malseed, Morningstar Australasia’s Director, Manager Research.

The international equities award will not be awarded again this year, as there were no eligible candidates demonstrating suitable achievement across our award criteria. Award finalists and winners are determined by a combination of research by Morningstar's manager research analysts; risk-adjusted medium- to long-term performance track records; and performance in the 2023 calendar year. The table below shows the category winners, including winner of the Overall Fund Manager of the Year.

Awards	Winner
Overall Fund Manager of the Year	QuayStreet Asset Management
Fund Manager of the Year - Domestic Equities	Devon Trans-Tasman
Fund Manager of the Year - Kiwisaver	QuayStreet Asset Management
Fund Manager of the Year - Fixed Interest	Bentham Global Income (NZD)

Methodology

Only fund managers with products available for sale in New Zealand qualify for inclusion in the Morningstar Awards. Morningstar determines winners based on a combination of research by its manager research analysts; risk-adjusted returns over medium- to long-term periods; and performance in the 2023 calendar year.

These awards are determined by a combination of risk-adjusted medium- to long-term performance track records and Morningstar’s forward-looking rating for funds, the Morningstar Medalist Rating™ including its Parent pillar component, where applicable. The Medalist Rating is set on a five-tier scale running from Gold, Silver, Bronze, Neutral and Negative at the share class level. The full methodology for the awards is available here.  

The winners for the 2023 Morningstar New Zealand Awards were announced on Tuesday 26 March at the Hilton in Auckland. For more information about Morningstar Awards, visit https://go.morningstar.com/Morningstar-Awards.

About Morningstar, Inc

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 $264 billion in assets under advisement and management as of Sept. 30, 2023. The Company operates through wholly- or majority-owned subsidiaries in 32 countries. For more information, visit www.morningstar.com/company. Follow Morningstar on X @MorningstarInc.

Morningstar’s Manager Research Group 

Morningstar’s Manager Research Group consists of various wholly owned subsidiaries of Morningstar, Inc. including, but not limited to, Morningstar Research Services LLC. Morningstar Manager Research provides independent, fundamental analysis on managed investment strategies. Morningstar views are expressed in the form of Morningstar Medalist Ratings, which are derived through research of three key pillars—People, Process, and Parent. The Morningstar Medalist Rating is the summary expression of Morningstar’s forward-looking analysis of investment strategies as offered via specific vehicles using a rating scale of Gold, Silver, Bronze, Neutral, and Negative. A global research team issues detailed research reports on strategies that span vehicle, asset class, and geography.

Medalist Ratings are not statements of fact, nor are they credit or risk ratings, and should not be used as the sole basis for investment decisions. A Medalist Rating is not intended to be nor is a guarantee of future performance. This press release is for informational purposes only; references to securities should not be considered an offer or solicitation to buy or sell the securities. 

The Awards are copyrighted to Morningstar. Fund managers may not publicise the Award(s) without the prior written consent of Morningstar.

Morningstar Medalist Ratings and Award nominees and winners are subjective in nature and should not be used as the sole basis for investment decisions. Morningstar Medalist Ratings are based on Morningstar’s current expectations about future events and therefore involve unknown risks and uncertainties that may cause Morningstar’s expectations not to occur or to differ significantly from what was expected. Morningstar does not represent its Morningstar Medalist Ratings to be guarantees nor should they be viewed as an assessment of a fund’s or the fund’s underlying securities’ creditworthiness. The references above should not be considered a solicitation by Morningstar to buy securities.

©2024 Morningstar, Inc. All Rights Reserved.

Media Contact: Christine St Anne 61 407 915 145 or christine.stanne@morningstar.com