iShares has won the 2021 Morningstar Luxembourg Award for Best Fund House Overall. It’s the first time a passive asset manager wins the overall award.
According to Morningstar analyst Ronald van Genderen, the award means iShares has simply produced the best risk-adjusted returns after fees across the equity and fixed-income range in recent years.
Does the fact a passive house is winning the overall fund award mean active fund houses are not able to consistently deliver alpha across equity and fixed income asset classes, and should therefore specialise in certain categories? Van Genderen does not want to draw this conclusion. ‘I don’t want to draw a conclusion based on this ranking because it is purely of a quantitative nature,’ he told Investment Officer.
It’s remarkable however, that all other awards were won by active asset managers, with no one single fund house dominating. The award for best Equity fund house was won by France’s Financière de l’Echiquier, while Capital Group won the award for best Fixed-Income house.
See below for a list of all the winners:
FUND CATEGORY AWARDS WINNERS:
Best EUR Allocation Fund Amundi Funds – Global Multi-Asset Conservative A EUR C
Best EUR Fixed-Income BlueBay Investment Grade Euro Aggregate Bond Fund R EUR
Best Europe Equity Fund DNCA Invest Europe Growth A EUR
Best Global Equity Fund Fidelity Global Focus Fund A-Dis-USD
Best Fund House: Equity Financière de l’Echiquier
Best Fund House: Fixed-Income Capital Group
Best Fund House: Overall iShares