CFA Society PH recognized 13 best managed funds in terms of key performance metrics compared to their peers.
The Chartered Financial Analyst (CFA) Society Philippines held the awarding of the 2024 Best Managed Fund of the Year Awards last April 24, 2024 at Balete Ballroom, The City Club Alphaland and recognized thirteen (13) funds that delivered the best performance metrics relative to their peers. For its 9th edition, there were a total of 136 qualified funds from 17 investment houses and Trust Institutions who joined this year’s awards.
The winners were assessed by the CFAP Fund of the Year Committee, which reviewed the financial institution’s submission of investment information and fact sheets. This year, new categories were introduced to expand to global funds as well as local equity index funds. For actively-managed funds, the entries were assessed using their Sortino ratio based on their five-year and three-year track record in order to determine the funds with the highest risk-adjusted returns. For local equity index funds, their Tracking Error relative to the PSEi based on their five-year and three-year track record was used to identify the best managed index fund.
CFA Society Philippines gave awards in seven categories, both in peso-denominated and dollar-denominated funds. Only the funds accessible to the public or retail investors were considered for this contest.
Here are the winners:
INTERMEDIATE TERM BOND FUNDS (FVPL) refer to funds using fair value profit and loss valuation purely (FVPL) with the mandate of the fund limiting their duration to up to three (3) years.
- Peso Intermediate-Term Bond (FVPL) – Metro Max-3 Bond Fund
- Dollar Intermediate-Term Bond (FVPL) – Metro$ Max-3 Bond Fund
MEDIUM TERM BOND FUNDS (FVPL) refer to funds that use fair value profile and loss valuation purely (FVPL) with the mandate of the fund limiting their duration up to five (5) years but greater than three (3) years.
- Peso Medium-Term Bond (FVPL) – Landbank Medium-Term Bond Fund
- Dollar Medium-Term Bond (FVPL) – AUB Gold Dollar Fund
LONG TERM BOND FUNDS (FVPL) refer to funds that use FVPL valuation purely for their bonds but with the mandate of the fund allowing duration of greater than five (5) years.
- Peso Long-Term Bond (FVPL) – SB Peso Bond Fund
- Dollar Long-Term Bond (FVPL) – China Bank Dollar Fund
BALANCED FUNDS refer to funds that use FVPL valuation purely with the mandate of investing in a diversified portfolio of bonds and stocks where investment in stocks shall be up to 40% to 60% of the fund.
- Peso Balanced Fund – AB Capital Balanced Fund
- Dollar Balanced Fund – Sun Life Prosperity Dollar Advance Fund
EQUITY FUNDS refer to funds with the mandate of investing substantially in equities. Cash maybe kept for liquidity and portfolio-rebalancing purposes
- Peso Equity Fund – BPI Philippine Infrastructure Equity Index Fund
- Dollar Equity Fund – BPI Invest Global Equity Fund-of-Funds
EQUITY INDEX FUNDS refer to funds with the mandate of tracking the movements of the Philippine Stock Exchange Index (PSEi)
- Peso Equity Index Category – SB Philippine Equity Index Fund
GLOBAL EQUITY FEEDER FUNDS refer to funds with the mandate of investing primarily in a target fund that has exposure to global equities
- Peso Global Equity Feeder Fund – ATRAM Global Technology Feeder Fund
- Dollar Global Equity Feeder Fund – BPI US Equity Index Feeder Fund
“The goal of the CFA Society of the Philippines in giving the fund of the year awards is to raise awareness among retail investors by recognizing professionally-managed funds that have delivered the highest risk-adjusted returns (for actively-managed funds) or lowest tracking error (for index funds) compared to their peers. This performance and consistency is important for investors who put their hard earned money in the hands of their fund managers for their future.” Dr. Robert B. Ramos, CFA, CIPM, CAIA, RFC, President and Chairman of CFA Society Philippines said.
"Consistent with our advocacy of promoting investor education and excellence in the industry, CFA Society Philippines is pleased to present the awards to deserving funds this year especially with the addition of new categories, which should expand the investment universe of Filipinos as they look for more options to grow their hard-earned money." added Mr. Mark Ilao, CFA, CIPM, Committee Member of Best Managed Fund of CFA Society Philippines.