Perpetual Investments wins top award

Wednesday, February 21st 2001, 8:01AM

Perpetual Investments has been named Fund Manager of the Year in Australia by research house Morningstar.

Perpetual is currently working on raising its profile and promoting its products in New Zealand. The company ran a roadshow, with Fidelity, for financial planners in New Zealand last November and it is looking at repeating the exercise again in May.

Morningstar says Perpetual won the award because it displayed "both the highest-quality performance from a return and risk perspective over time, and supported (that performance) by the best business and investment disciplines, philosophies, styles and processes."

Perpetual Investments also picked up the top awards for Australian equities and International equities.

Perpetual Investments chief executive Rodney Green says that the Perpetual approach was "more discipline than magic – whereas too many investors lose sight of good investment sense by chasing the best possible short term returns according to the fashion of the day."

"When equity investors make the mistake of following the fashionable trends of the day, the discipline of looking at the fundamentals of the company they are investing in is often forgotten," he said.

Runners-up in the fund manager of the year awards for 2000 were AMP Henderson Global Investors and Credit Suisse Asset Management.

AMP was named multisector Fund Manager of the Year, reflecting a strong all-round performance, and it was finalist in the Australian equities and international fixed interest categories.

Macquarie Investment Management was named Australian fixed interest Fund Manager of the Year, and MLC won the international fixed interest award.

While Credit Suisse did not win any category, it was a finalist in two. Colonial First State Investment Managers, a hot favourite to win the overall award because of its excellent Australian equities performance, was a finalist in only one category, Australian equities.

Perpetual Investments is unrelated to Perpetual Trust in New Zealand.

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