Any manager who earns a Citywire Euro Stars rating has delivered consistently strong risk-adjusted performance over three years. But the Euro Stars rating differs from our country-specific rating in that to attain one, a manager has to be running a fund that is available in at least three of the 11 countries covered by our database.
The idea is to provide investors with a list that highlights the best fund managers from the growing cross-border superset.
The global equity sector is one of the largest in the Citywire database, incorporating a wide variety of fund manager strategies and styles. Accordingly, it is a large section of our analysis, with 34 fund managers making it on to our elite list, including 1 with AAA ratings, 4 with AA ratings and 29 with A ratings.
European equities, in some form or another, are a core allocation for most of Europe’s investment selectors. In creating this category for our Euro Stars list, we have analysed not just the Equity Europe and the European Small & Mid Cap Equity sectors, but also the domestic equity sectors in each of the European countries covered by our analysis. So in this list we aim to have the best managers of pan-European equity funds along with the best single-country equity fund managers across the continent.
North America Equities
Looking for fund managers able to successfully and consistently outperform in the world’s largest stockmarket can be a daunting challenge. But using different styles and strategies, crossing a range of market caps and sectors, a number have been able to prove their worth with strong risk adjusted performance in a turbulent three years for North American equities.
The UK may be a relatively small country but its status as a major investment market, benefiting from the global reach of many of its listed companies, is the basis for its inclusion here as a separate category.
Emerging markets offer some of the world´s most exciting opportunities. In this category we highlight the fund managers who have consistently delivered the best returns from investing in those opportunities.
In creating this category for our new Euro Stars list, we have analysed the entire Asia Pacific region, showcasing fund managers operating in some of the world’s fastest developing economies such as India and China alongside the eternal opinion divider of the developed world – Japan.
Specialist equities add all-important de-correlation to a portfolio – a key attribute in today’s uncertain world. Often run by experts in their fields with a deep knowledge of their chosen area, these funds can target the best ideas within a precise theme and consequently invest with conviction. Stand alone technology, commodities, financials and pharmaceuticals funds all feature in this diverse section of our new Euro Stars list.
Despite the low yields available from western government bonds in recent years, risk aversion has seen investors continue to invest strongly in the bond segment. The flexibility of global bond managers has proved particularly appealing, as they are able to also invest in emerging markets, currencies, as well as the most interesting developed markets. Just six managers from the global bond sector produced strong enough risk adjusted performance in the past three years to make our elite list.
Included in our ‘other bonds’ section are leading managers from a range of fixed income sectors, including European sovereign bonds, US treasuries, corporate bonds, convertibles, and high yield. The managers who made our elite list were analysed for their performance against their appropriate benchmarks.
Complete list of all rated Euro Stars fund managers 2011: