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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