You read about the announcement of our Category Award nominees yesterday. Today we take it forward with our nominees of the Fund House Awards.
Morningstar Fund House Awards
These awards are given to the fund houses with the strongest performing fund line-ups on a risk-adjusted basis. Fund performance is evaluated within the Morningstar Categories. Fund houses need to have a minimum of five funds each in Equity and Debt categories in order to be eligible for the Fund House awards. Money markets are not eligible for inclusion.
For each of the below three groups, Morningstar will calculate a House Score using the following methodology: Determine the 5-year Morningstar Risk-Adjusted Return (MRAR) for each share class of each fund run by a given house, and the percentile rank of that return score within its Morningstar Category. Determine the average percentile rank of each fund's MRAR by taking the mean MRAR percentile rank of all its classes. Determine the mean percentile rank of each fund house's MRAR by taking the mean of its funds' MRAR percentile ranks (the lower a group's mean percentile rank, the better its performance). Adjust the score using the probability function to compensate for difference in fund house sizes. The adjustment enables us to account for the fact that the number of funds varies from one group to another and therefore makes it possible to compare the different mean scores of the competing groups. Post the above calculations, Morningstar’s qualitative research analysts will conduct a round of checks to arrive at the nominees and the winners.
Following are the nominees for the Fund House Awards in 2018.
Best Fund House: Overall
- Aditya Birla Sun Life Asset Management
- Franklin Templeton Asset Management (India)
- L&T Investment Management
Best Fund House: Debt
- Aditya Birla Sun Life Asset Management
- Franklin Templeton Asset Management (India)
- UTI Asset Management
Best Fund House: Equity
- Aditya Birla Sun Life Asset Management
- ICICI Prudential Asset Management
- L&T Investment Management
Here are the nominees for category awards.
We believe the nominees have done an exceptional job in managing money for their investors across fund categories and asset classes. These truly represent the best in breed Asset Managers across the country.
Good luck to the nominees. Watch the final announcement of the winners in a few weeks.
