Revealing Singapore's newly-rated elite

By on

Singapore’s GDP growth in 2012 has been lowered 1.5% compared to the 2.4% the Monetary Authority of Singapore had previously forecast.

Despite this growth readjustment, eight managers achieved their first ever Citywire manager ratings in Singapore in December.

Making his debut with a Citywire AA rating is Bruce Olson at Wells Fargo, manager of the Wells Fargo (LUX) WW US All Cap Growth fund.

This fund invests heavily in the tech sector with Apple (7.34%), eBay (3.62%) and Google (3.29%) making up its top three holdings as of the end of November.

Over the past three years it has returned 46.75% in SGD terms compared with its benchmark, the Russell 3000 Growth TR, which is up by 26.03%.

North American equities veteran Gordon Grender at GAM has also entered the Singapore ratings on his debut with a Citywire A rating. Grender has been managing the GAM North American Growth fund since its launch near three decades ago.

The fund invests mainly in companies listed in the US and Canada and over the last three years has posted returns of 36.34% compared to a 21.3% rise of its benchmark, the S&P 500 TR, in SGD terms.

Bond manager Mondher Bettaieb has just become eligible for the ratings and has been awarded his first ever Citywire rating in Singapore.

His strong risk- adjusted performance on the Vontobel Fund - EUR Corporate Bond Mid Yield has seen him gain an A rating. The fund largely invests in mid-yield euro denominated bonds with a three year volatility of 8.84%.

After being rated for the first time by Citywire six months ago, Scott A. Mather from PIMCO has achieved his first AAA rating based on the risk-adjusted returns of his PIMCO GIS Global Bond Inst and PIMCO GIS Global Bond Ex-US Inst funds.

His investment on both funds has delivered a combined total return of 14.73% in the global bonds sector compared to a mere 0.38% average growth gained by managers within this sector.

Hot-on-the-heels of Mather are Legg Mason duo David F. Hoffman and Stephen Smith, co-managers of the Legg Mason Brandywine Global Fixed Income fund, who have received the coveted AAA rating for the first time.

The fund has returned a 7.78% in SGD terms over the past three years as of the end of November while its benchmark, the Citigroup WGBI TR, is down by 3.97% over the same period.

Emerging markets specialist Glen Finegan at First State has also joined Citywire's AAA elite manager club.

Focusing on large and mid-caps in the emerging markets, Finegan has positioned nearly one-fifth of his portfolio in China (18.5%), followed by South Korea (15.5%) and Brazil (12.0%) as of the end of November.

In terms of sector breakdown, he is heavily invested in financials which make up 25.8% of the fund, big names like Standard Bank feature in his top holdings.

In the group standings, Fidelity is in top spot once again with 13 rated fund managers. Following closely behind is BlackRock with 10 and in joint third are Swiss & Global Asset Management and Schroders, both with 9 rated managers.

In conclusion, ratings have been awarded to 192 managers who manage funds which are registered for sale in Singapore. As of November 2012, this comprised of 28 AAA, 46 AA and 118 A ratings.

We are now tracking 1370 managers running 1498 funds, of which 1015 have the necessary performance history required to be eligible for a rating.