Morningstar is back with the 16th edition of the Morningstar Fund Awards, a program that recognizes excellence in the Indian fund industry.
The annual Morningstar India Fund Awards are designed to help investors identify the retail funds and fund houses that added the most value for investors within the context of their relevant peer group in 2023 and over longer time periods.
Morningstar employs a quantitative approach coupled with a qualitative overlay in the selection of winners. This involves evaluating the one-, three-, and five-year performance records of all eligible funds and adjusting returns for risk using Morningstar Risk, a measure that imposes a more significant penalty for downside variation in a fund's return compared to upside volatility. Starting this year, we have incorporated an additional layer into the selection process by introducing the Morningstar Medalist Rating overlay. Alongside quantitative scoring, priority is now given to funds with positive Morningstar Medalist Ratings (Gold, Silver, Bronze).
Another notable change that we've implemented in this year's fund award process is the expansion of categories, across the equity and fixed income funds. Specifically, we've expanded the Small/Mid-Cap Equity category by combining the small-cap and mid-cap categories. Additionally, on the equity side, we've introduced the Flexi Cap category.
Likewise, within the fixed income domain, we've expanded the Medium to Long Duration category by adding Dynamic Bond category to it. In addition to that, we have also introduced Corporate Bond category.
The inclusion of new categories aims to broaden the scope of Morningstar Awards, encompassing a greater number of funds.
A modification has also been made to the house awards. Unlike previous years, where three fund house awards were presented for individual asset classes (Best Fund House Equity, Best Fund House Debt, and Best Fund House Overall), this year, a single house award will be conferred i.e., Best Asset Manager.
Here is the list of nominees in alphabetical order for this year’s Morningstar Fund Awards.
Best Large Cap Equity Fund
Best Flexi Cap Equity Fund
Best Small/Mid-Cap Equity Fund
Best Short Duration Fund
Best Corporate Bond Fund
Best Medium to Long Duration Fund
Best Asset Manager
- Kotak Mahindra AMC Ltd.
- PGIM India Mutual Fund
- SBI Funds Management Ltd.
Click here to gain insight into the methodology and selection process for the Fund Awards.
The winners of the Morningstar Fund Awards, India, will be declared on March 20, 2024.
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