Independent investment research provider Morningstar has announced the winners for the 2023 Morningstar Fund Awards – South Africa. The annual awards recognise funds and asset managers judged to have added the most value for investors within key sectors and across asset classes.
For the second year running, Truffle Asset Management won Best Fund House in the smaller fund range, as well as Best Bond Fund for its Truffle SCI Income Plus Fund.
Nedgroup Investments Managed Fund won the Best Aggressive Allocation Fund, while Nedgroup Investments Balanced Fund won the Best Moderate Allocation Fund award.
Morningstar’s methodology document emphasises that while the awards emphasise the one-year period, “funds must have also delivered strong three- and five-year returns after adjusting for risk within the awards peer groups in order to obtain an award.
“Further, they must have been at least in the top half of their respective peer groups in at least three of the past five calendar years. We believe this combination will ensure that the awards are given to funds which have earned strong one-year results, and have also shown they have the ability to earn strong long-term returns without undue risk.”
Morningstar adds that 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 2023 Morningstar Fund Awards – South Africa winners
*Formerly known as Counterpoint
| Morningstar Fund House Awards | Winner |
| Larger Fund Range | CoreShares |
| Smaller Fund Range | Truffle Asset Management |
“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,” says Tal Nieburg, managing director of Morningstar South Africa in a statement.
“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.”
See award winners’ gallery
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Shaun Anderson and Mansoor Narker of Nedgroup; Iain Power of Truffle Asset Management; and Rob Johnson of Nedgroup. Image: Magma Media
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![Abri du Plessis, Megan Fraser, and Reuben Beelders of Gryphon Asset Management. Image: Magma Media]()
Abri du Plessis, Megan Fraser, and Reuben Beelders of Gryphon Asset Management. Image: Magma Media
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Luke McMahon of Sanlam. Image: Magma Media
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![Yamkela Mthembu of Schroders. Image: Magma Media]()
Yamkela Mthembu of Schroders. Image: Magma Media
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Paul Stewart, MD of Counterpoint, now called Merchant West Investments. Image: Magma Media
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![Chris Rule and Gareth Stobie of CoreShares. Image: Magma Media]()
Chris Rule and Gareth Stobie of CoreShares. Image: Magma Media
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