BT Funds win big at gong show
NZ managers face top competition at FundSource awards
Westpac Bank’s investment arm, BT Funds Management, received the top gong at the FundSource awards. The annual awards recognise the top-performing fund managers in New Zealand and were held in Auckland at NZME central last night.
Funds are required to pass qualitative and quantitative screening to be included in the selection process, before they are analysed on a performance-based approach.
Overseas funds, who were allowed to enter for the first time this year, needed to demonstrate a strong commitment to the New Zealand market.
Glen van Echten, head of FundSource — a fund research firm owned by the NZX — said he was delighted to see New Zealand-based fund managers take home the majority of the awards even though overseas funds were eligible this year.
“The FundSource Awards once again highlight the strong calibre of New Zealand fund managers, and the strength of our local industry.”
The event has 10 sector awards and four main awards, which include the longevity award, KiwiSaver manager of the year, boutique mana- ger and fund manager of the year.
Milford Asset Management won both the longevity and the KiwiSaver fund manager of the year award for the second year in a row, while Forsyth Barr won the boutique manager of the year award.
As well as taking out the fund manager of the year award, BT Funds Management received the sector award for the Australasian property sector.
Darren Howlin, chief awards judge and Research IP director and founder, said the competition had been tight this year, with several new funds coming through and the inclusion of Australian fund managers for the first time.
“The FundSource Awards demonstrate that New Zealand’s funds management industry is healthy and robust, and looking better than ever to meet the needs of investors.”