Morningstar announces managers and steward of the year

Morningstar has announced its 2016 fund managers of the year and steward of the year.

Managers of the year

Fixed income manager of the year goes to Hanif Mamdani, manager of PH&N High-Yield Bond Fund.

Other finalists for the award were:

• John Carswell and Vivek Verma for Lysander Canso Corporate Value Bond, and
• Alfred Murata and Daniel Ivascyn for PIMCO Monthly Income Fund.

Read: Fixed income prospects for 2017

Equity managers of the year are Stephen Arpin and William Otton, managers of Beutel Goodman SmallCap Fund.

Other finalists for the award were:

• Garey Aitken and Tim Caulfield for Franklin Bissett Canadian Equity Fund;
• Bill Dye, David Jiles, Richard Liley, Patrick Reddy and Nick Szucs for Leith Wheeler Canadian Equity Fund;
• Doug Stadelman and Scott Lysakowski for PH&N Vintage Fund and PH&N Canadian Equity Fund; and
• Bill Kanko, Matias Galarce and Heather Peirce for CI Black Creek Global Leaders Fund.

The awards recognize managers who delivered “impressive performance in 2016, have generated excellent long-term risk-adjusted returns and have been good stewards of fund shareholders’ capital,” says Morningstar in a release.

Steward of the Year

Steward of the Year goes to RBC Global Asset Management. The firm cut expenses across 85 funds in 2016 and re-opened the “well-managed” PH&N High-Yield Bond Fund, says Morningstar.

The other finalist was Steadyhand Investments.

To be eligible for the Steward award, a fund company must have a history of fundholder-friendly behavior. In Canada, Morningstar rates approximately two dozen fund companies and gives them a “parent rating,” a component of Morningstar’s qualitative fund analyst rating. Only those with a positive parent rating are considered.

Also read:

Suitability violations are main driver of investor complaints: IIROC

OBSI to explore naming and shaming alternatives