Skip to content

Morningstar Announces Winners For 2023 Morningstar Fund Awards – South Africa

  • NEWSWIRE
  • 3 min read

Morningstar, Inc. (Nasdaq: MORN), a leading provider of independent investment research, today announced the winners for the 2023 Morningstar Fund Awards – South Africa. The awards recognise those funds and asset managers that have served investors well over the long-term.

Truffle Asset Management scooped two awards, both for the second year in a row. The first for its Truffle SCI Income Plus Fund being awarded the Best Bond Fund under the fund category awards, and the second being named the Best Fund House: Smaller Fund Range in the fund house category. Nedgroup Investments also celebrated two fund category wins this year, receiving the Best Aggressive Allocation Fund and Best Moderate Allocation Fund awards. 

The annual Morningstar Fund Awards recognise those funds and asset managers that added the most value for investors within key sectors and across asset classes. Morningstar selects the winners using a quantitative methodology and eligible funds require a five-year performance track record. Weightings of one-, three-, and five-year performance are factored into the methodology, along with a qualitative overlay. 

“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,” said Tal Nieburg, Managing Director of Morningstar South Africa.

The 2023 Morningstar Fund Awards – South Africa winners are:

Morningstar Category AwardsWinner
Best Aggressive Allocation FundNedgroup Investments Managed
Best Bond FundTruffle SCI Income Plus
Best Cautious Allocation FundSanlam Multi Managed Cautious FoF 
Best Flexible Allocation FundGryphon Prudential Fund
Best Global Equity FundSchroder ISF Global Sust Gr C Acc USD
Best Moderate Allocation FundNedgroup Investments Balanced 
Best South Africa Equity FundMerchant West Investments SCI Value* (*formerly known as Counterpoint)
Morningstar Fund House Awards Winner 
Larger Fund RangeCoreShares
Smaller Fund RangeTruffle Asset Management

“Congratulations to all our 2023 Fund Award winners! 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,” Nieburg added.  

Methodology

The Morningstar fund category and fund house awards are based on Morningstar fund data as of 31 December 2022. The awards methodology emphasises the one-year period, but funds must also have delivered strong three- and five-year returns after adjusting for risk within the award peer groups in order to obtain an award. 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 full methodology for the awards is available here.

For Morningstar Fund Awards enquiries, kindly contact Morningstar via awards.za@morningstar.com