Morningstar Fund House Awards
These awards are given to the fund groups with the strongest performing fund line-ups on a risk adjusted basis. Fund performance is evaluated within the Morningstar Categories.
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 winner.
NOMINATIONS (alphabetical order)
Best Fund House: Debt
Fund houses with at least three fixed-interest funds with Morningstar Ratings available for sale in a given market are eligible. Money markets are not eligible for inclusion.
- Birla Sun Life AMC
- IDFC AMC
- UTI AMC India
Best Fund House: Equity
Fund houses with at least five equity funds with Morningstar Ratings available for sale in a given market are eligible.
- Canara Robeco Asset Management
- Franklin Templeton Asset Management India
- ICICI Prudential AMC India
Best Fund House: Multi-Asset
Fund houses with at least five equity funds and five fixed-interest funds with Morningstar Ratings available for sale in a given market are eligible. Money markets are not eligible for inclusion.
- Birla Sun Life AMC
- Franklin Templeton Asset Management India
- UTI AMC India
