Fund Investing

Once again, independent Calgary firm is the big winner at the Morningstar Awards.
By Diana Cawfield | 26/11/14

Mawer Investment Management Ltd. once again basked in the spotlight at the Morningstar Awards.

About the Author
Diana Cawfield is an award-winning writer who has been a regular Morningstar contributor since 2000. Her numerous publication credits include the Toronto Star, Advisor's Edge and Chatelaine, as well as the Canadian Securities Institute's online educational services.

Among Mawer's many 2014 honours bestowed tonight was Analysts' Choice Fund Company of the Year, which it won for the second year in a row. The independent Calgary firm, a perennial awards contender, also picked up several mutual-fund awards, along with awards for pooled funds for institutional investors.

In the mutual-fund categories, Mawer received awards for its Canadian equity, global balanced, international equity, Canadian small/mid-cap equity and global small/mid-cap equity mandates. "Across the board in various asset categories, Mawer managers employ the same strategies and disciplined process," said Christopher Davis, Morningstar's director of manager research. "It's no surprise that success in one investment mandate goes hand in hand with success in others."

Among the eight pooled-fund awards, Mawer received five. They were for the Canadian equity, global equity, Canadian small/mid-cap equity, global balanced and international equity categories. "Many of Mawer's mutual funds have similar pooled-fund counterparts," said Davis. "They've been able to be successful in both the retail and institutional segments."

In yet another accolade for Mawer, Morningstar's Domestic Equity Fund Manager award went to the team of Martin Ferguson, director and portfolio manager, and Jeff Mo, portfolio manager.

This year's Morningstar Fixed-Income Fund Manager of the Year is the PH&N fixed-income team, with William John and Stephen Burke as the lead portfolio managers. Morningstar's Foreign Equity Fund Manager of the Year award went to Tye Bousada and Geoff MacDonald, portfolio managers at EdgePoint Wealth Management Inc.

"We've very grateful to Morningstar," said Bousada, "and to the 85,000 families that have trusted in us." Then MacDonald stepped up to the podium and added, "The EdgePoint team is the best in the business. We're having a blast making money for our investors."

Peter Mansbridge hosting the 2014 Morningstar Awards

The three Manager of the Year awards for individual portfolio managers and manager teams, and the Analysts' Choice Fund Company of the Year, were selected by Morningstar Canada's manager research team. Along with strong recent results, the winners were judged to have achieved consistently strong performance over the long term, and to have employed a disciplined, repeatable investment process.

The awards for individual funds were chosen by a jury consisting of fund analysts, including members of Morningstar's research team. The selection process includes quantitative screening, nominations from each jury member, and group discussions. (See table for list of winners.)

The Advisors' Choice Fund Company of the Year, as selected on the basis of a survey conducted by Investment Executive and Morningstar, went to Fidelity Investments Canada for the fourth year in a row.

The winner of the IFIC Investor Education Award, sponsored by the Investment Funds Institute of Canada, is Sun Life Financial for money UP!. Employing an online-game approach, money UP! is designed to improve the financial literacy of Canadians who have a workplace retirement and savings plan through their employer with Sun Life.

"Sun Life's money UP! entry stood out for its originality and creativity," said Rudy Luukko, Morningstar editor and jury chair, "and we found it to be the most engaging of the various submissions we considered."

Brigette Chang-Addorisio accepting the Morningstar Career Achievement Award on behalf of her late father

This year's recipient of the Career Achievement Award is the late G. Raymond Chang, a former director and chairman and CEO of CI Financial Corp. He is the first recipient to have received this award posthumously.

One of the most emotional moments of the evening was the acceptance speech by Chang's daughter. "It's a great honour, but it's bittersweet," said Brigette Chang-Addorisio. "We wish he could be here to receive the award. One of my father's favourite quotes was, 'Education is the great equalizer.' He always said, 'you can achieve great things if you are willing to learn and work hard…and give back to others, especially to your community.'"

During his three decades at CI, which grew to become one of Canada's largest independent fund-management companies, Chang fostered a culture of entrepreneurship and innovation. "His legacy was one of being the most genuinely helpful persons who ever walked through the doors at CI," William (Bill) Holland, chairman of CI Financial and a long-time colleague, told Morningstar.

Chang also served as Chancellor of Ryerson University from 2006 to 2012. The naming of the G. Raymond Chang School of Continuing Education at Ryerson University is a fitting tribute to his philanthropy. Chang was a generous supporter of numerous other community and charitable initiatives in Canada and his native Jamaica.

The Best ETF Initiative Award went to iShares Core Series of ETFs, created by BlackRock Asset Management Canada Ltd. The rebranding initiative that created the series in March was accompanied by reductions in management fees.

Jim Cuddy performs at the Morningstar Awards

The Morningstar Awards is Canada's premier annual awards event for the investment industry, honouring companies and individuals that have made a difference in the lives of investors through superior investment products, service, education and marketing.

This year's gala, held at the Fairmont Royal York Hotel in Toronto with more than 500 guests in attendance, marked 20 years of celebrating the Canadian investment industry and its achievements. Back by popular demand as host and master of ceremonies was the CBC's Peter Mansbridge.

The evening's musical entertainment included a special guest performance by Canadian singer and songwriter Jim Cuddy.

For the fifth year in a row, all proceeds from fees received for submission-based Morningstar awards will be donated to MusiCounts, Canada's music-education charity, which is associated with the Canadian Academy of Recording Arts and Science.

For more coverage of the Morningstar Awards click on the following links:

 

 

Morningstar Awards
Morningstar Analysts' Choice Investment Fund Company of the Year
Mawer Investment Management Ltd.
Morningstar Domestic Equity Fund Manager of the Year
Martin Ferguson and Jeff Mo
Mawer Investment Management Ltd.
Morningstar Foreign Equity Fund Manager of the Year
Tye Bousada and Geoff MacDonald
EdgePoint Wealth Management Inc.
Morningstar Fixed Income Fund Manager of the Year
PH&N Fixed Income Team
RBC Global Asset Management Inc.
Morningstar ETF Provider of the Year
Vanguard Investments Canada Inc.
Mutual Fund Awards
Best Canadian Balanced Fund
Manulife Monthly High Income
Manulife Asset Management Ltd.
Best Canadian Dividend & Income Equity Fund
RBC Canadian Equity Income
RBC Global Asset Management Inc.
Best Canadian Equity Fund
Mawer Canadian Equity
Mawer Investment Management Ltd.
Best Canadian Fixed Income Fund
PH&N Total Return Bond
RBC Global Asset Management Inc.
Best Canadian Small/Mid Cap Equity Fund
Mawer New Canada
Mawer Investment Management Ltd.
Best Emerging Markets Equity Fund
Brandes Emerging Markets Equity
Bridgehouse Asset Managers
Best Specialty Equity Fund
CI Global Health Sciences
CI Investments Inc.
Best Global Balanced Fund
Mawer Balanced
Mawer Investment Management Ltd.
Best Global Equity Fund
Capital Group Global Equity
Capital International Asset Management
Best Global Fixed Income Fund
PIMCO Monthly Income
PIMCO Canada Corp.
Best Global Small/Mid Cap Equity Fund
Mawer Global Small Cap
Mawer Investment Management Ltd.
Best International Equity Fund
Mawer International Equity
Mawer Investment Management Ltd.
Best U.S. Equity Fund
Trimark U.S. Companies
Invesco Canada Ltd.
Best U.S. Small/Mid Cap Equity Fund
Fidelity Small Cap America
Fidelity Investments Canada
Best High Yield Fixed Income Fund
Fidelity American High Yield
Fidelity Investments Canada
Best Fund of Funds
Fidelity Managed Portfolios
Fidelity Investments Canada
ETF Awards
Best Equity ETF
Horizons Active Global Dividend ETF
Horizons ETFs Management (Canada) Inc.
Best Fixed Income ETF
Horizons Active Preferred Share ETF
Horizons ETFs Management (Canada) Inc.
Best Specialty ETF
BMO Global Infrastructure ETF
BMO Global Asset Management Inc.
Pooled Fund Awards
Best Canadian Balanced Pooled Fund
Leith Wheeler Diversified
Leith Wheeler Investment Counsel
Best Canadian Equity Pooled Fund
Mawer Canadian Equity
Mawer Investment Management Ltd.
Best Canadian Income Pooled Fund
PH&N Enhanced Total Return Bond
RBC Global Asset Management Inc.
Best Canadian Small/Mid Cap Equity Pooled Fund
Mawer New Canada
Mawer Investment Management Ltd.
Best International Equity Pooled Fund
Mawer International Equity
Mawer Investment Management Ltd.
Best U.S. Equity Pooled Fund
Beutel Goodman American Equity
Beutel, Goodman & Company Ltd.
Brandywine Classic Value U.S. Equity
Brandywine Global Asset Management*
*Note: There was a tie in this category.
Best Global Balanced Pooled Fund
Mawer Balanced
Mawer Investment Management Ltd.
Best Global Equity Pooled Fund
Mawer Global Small Cap
Mawer Investment Management Ltd.
Hedge Fund Awards
Best Multi-Strategy or Fund of Hedged Funds
PH&N Absolute Return Strategy
RBC Global Asset Management Inc.
Best Opportunistic Hedge Fund
DKAM Capital Ideas Fund LP
Donville Kent Asset Management
Best Relative Value Hedge Fund
Curvature Fund LP
CHS Asset Management Inc.

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