Hong Kong, February 20, 2003 – South China Morning Post Fund Manager of the Year Awards 2002 today recognised Hong Kong’s leading fund managers for their outstanding performance.
The award competition was organised by South China Morning Post in association with Standard & Poor’s Fund Services and sponsored by Hang Fung Gold Technology Group.
In the leading awards, for the overall performance by fund management groups, UBS Global Asset Management took the honour for the 3-year category, while the 5-year and 10-year group awards were won by Threadneedle Asset Management Limited and Investec Asset Management respectively.
Among the other awards, from a pool of more than 1,600 retail-oriented funds registered for sales, 75 winners were recognised from a total of 34 sectors.
Financial Secretary Mr. Antony Leung, was the guest of honour at the Awards presentation ceremony and presented the award certificates to the winners.
Commenting on the performance of the winners, Executive Editor – Business, South China Morning Post, Mr. Ray Bashford said, "2002 was an especially difficult year made worse by the tragedy on September 11, 2001. The world markets have also been hurt by adverse international economic conditions. However, as we can see from these awards, fund houses were doing their best to meet investors’ needs and maximise their returns."
Managing Director, Standard & Poor’s Investment Services for Asia-Pacific, Mr. William J. Reidy commented, "It is important, particularly in the current market environment where the geopolitical concerns such as the risk of war between the US and Iraq are eminent, and the sub par economic growth in North America persists, to look at the experience of the investment manager, caliber of the research team, and risk management of the fund in detail prior to any investment decision. We believe an award at the Fund Manager of the Year Award is a valuable factor that investors should consider when subscribing to a fund."
South China Morning Post Fund Manager of the Year 2002 was assessed using a methodology known as Relative Risk Adjusted Ratio as was the case last year. This ratio is to assess a fund’s performance on a risk-adjusted basis and the consistency of that performance. Three time periods, namely three years, five years and ten years, were analysed for this year’s Awards. The one-year category has been removed to better align the evaluation criteria with the development of the Hong Kong fund market.
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South China Morning Post Publishers Limited publishes the South China Morning Post and the Sunday Morning Post, the premier English language daily and Sunday newspapers with the highest circulation and readership of any English language newspaper in Hong Kong. The South China Morning Post is a leading commentator on Greater China and is read widely by government officials, business people, professionals and academics globally. It is also the market leader for display and recruitment advertising in Hong Kong. Through its subscription – based online service, SCMP.com, news and information are also delivered to an international audience through multiple online channels. The Company is a wholly-owned subsidiary of SCMP Group Limited whose shares are listed on The Stock Exchange of Hong Kong Limited.
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The awards recognise everyday unsung heroes, individuals who have inspired others with their extraordinary achievements, dedication to a cause, acts of kindness or community spirit. “The Spirit of Hong Kong Awards stand for the spirit of people who have made Hong Kong what she is today, that can-do spirit, that perseverance, that never-give-up spirit, in a very low profile manner; they are not people seeking glory, vanity or publicity” remarked Mrs Lam.
The Peak magazine has been established in the region for over 20 years and was first published by SPH in Hong Kong in 2004. The well-regarded title specialises in a world of exclusivity and prestige, with a closed circulation targeting highly affluent professionals and social elite. It is predominantly read by senior level businessmen, who travel frequently and earn an annual salary in excess of US$400,000.
The SCMP Tablet Edition is also designed to provide advertisers with a range of new and highly visual advertising formats, and being HTML5, is content-searchable and downloadable with an internet connection, providing instantaneous news updates.
Mr Yen remarked “I pledge to be an Ambassador for Celebrating Hong Kong, and the Spirit of Hong Kong awards, because I believe we can all find it in ourselves to repay the city we love. Hong Kong is our home; my kids school here, my wife and I love living here and there’s nowhere in the world like it. By recognising the everyday heroes in our community, I hope people will be inspired to do more positive things for Hong Kong.”
The Spirit of Hong Kong Awards, sponsored by Sino Group, seeks to give recognition to ordinary Hong Kong people who have done extraordinary things. Through actions which demonstrate great integrity, inspiration or which have a positive impact on others in the community, these individuals or groups of individuals exemplify the very best of the Hong Kong spirit.