KPMG, Uncategorized

You too can be the fund manager of the decade (kinda)


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Morningstar announced yesterday its nominees for a new award Morningstar Fund Manager of the Decade.

According to Morningstar:

The Manager of the Decade award is not just about returns. We consider the risks assumed to achieve those results and take into account the strength of the manager, strategy, and firm’s stewardship. We also think it’s a greater feat to make a lot of money for a lot of people than to earn sky-high returns on a tiny pool of assets, so asset size factors in.

Morningstar created 3 strategies for the award:

  1. Domestic
  2. Foreign
  3. Fixed Income

The usual cast of characters made finalists.  So, you’ll see names like Fairholme’s Bruce Berkowitz, Don Yacktman, Fidelity’s Low Priced Stock Manager Joel Tillinghast, and PIMCO’s Bill Gross.

This is a great list and in spite of the terrible decade we’ve experienced as investors, there are some pretty impressive numbers from 1/2000 until now.  Many of the funds still put up double digit average annual returns.

Investors can use this list and bet that previous performance turns into future performance.  Or, they do it themselves and mimic the every move of these star asset managers.  Investors can tap the SEC’s IDEA database to read monthly regulatory filings of these investment advisors.  Through these disclosures, investors can piggyback the investment returns of the Morningstar finalists.

More enterprising investors may want to head over to Alpha Clone, a site developed to make piggybacking a whole lot easier.  For more on AC, check out my piece, Alpha Clone: The Cure to Investor Insanity.  AC users can not only track changes in thousands of professionally managed portfolios but they can backtest results of how best to mimic these investors.

[HT: The Reformed Broker]

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