The world’s top athletes have gathered in Rio de Janeiro to compete in a variety of Olympic sports including synchronized swimming, rhythmic gymnastics and cycling.
Many have honed their skills over the past four years since the last Olympic Games took place in London in 2012. But have fund managers managed to keep up with the sporting stars over the same timeframe?
In the first of a two part series, Citywire Selector takes a light-hearted look at how managers across key asset classes have performed over the four years to the end of June 2016.
|Gold||Bruno Crastes||H2O AM||91.39%||H2O Multibonds|
|Silver||Ariel Bezalel||Jupiter AM||35.45%||Jupiter JGF Dynamic Bond|
|Bronze||Daniel Ivascyn & Alfred T. Murata||Pimco||22.62%||PIMCO GIS Income|
Racing faster than Usain Bolt to the top of the leader board is Bruno Crastes. The AA-rated manager has consistently outperformed the average manager since 2012 on his boutique group's flagship fund, which he has managed since its launch in August 2010.
Chasing him down is Jupiter's Ariel Bezalel, who leads the rest of the competitors. He holds over half of his fund (56.1%) in corporate bonds. The manager favours the UK and it is the top country allocation in the fund at 27.7%.
The duo of Dan Ivascyn and Alfred Murata from US group Pimco post an admirable performance. In a recent market commentary, they said emerging market debt holdings in Brazil and Russia had offset the performance of investment grade and high yield corporate credit holdings in the past month.
|Gold||Terry Smith||Fundsmith||87.10%||Fundsmith Equity Fund Feeder|
|Silver||John Boselli||Wellington Management||81.01%||Wellington Global Quality Growth|
|Bronze||Kristian Heugh||Morgan Stanley||80.87%||Morgan Stanley Global Opportunity|
All the top three competitors in the global equity competition are heavily invested in North America, with second-placed competitor John Boselli allocating 72.5% of his fund to the region, the most of all the managers.
Unlike the others, the heat winner Terry Smith prefers consumer staples to technology and allocates 36.1% to the sector. Meanwhile, Morgan Stanley's Kristian Heugh devotes 43.2% of his fund to technology, which is an overweight against the benchmark allocation of 14.88%.
|Gold||Oliver Kelton||Odey Asset Management||111.14%||Odey European Focus|
|Silver||Willem Vinke||El Sturdza Investment Funds||89.44%||El Sturdza Strategic Europe Value fund|
|Bronze||Eva Fornadi||Comgest||82.52%||Comgest Growth Greater Europe Opps|
Pulling perfect somersaults out of the bag to spring to the top of the regional category is Oliver Kelton. France is his top country allocation at 23.66% followed by the UK at 14.65%. However, fellow competitor Willem Vinke allocates just 2% to France, and prefers the UK with 34.91% of the fund allocated there.
Bronze medal winner Eva Fornadi of Comgest keeps her fund concentrated at 37 holdings, with the largest holding being Wirecard AG at 7.3%, which is a payment services company based in Munich. She also devotes 4.5% of the fund to budget airline Ryanair.
|Gold||Anne Beaudu||Amundi||33.26%||Amundi Fds Bond Europe|
|Silver||David Simner||Fidelity International||29.48%||Fidelity Funds- MoneyBuilder European Bond|
|Bronze||John Beck||Franklin Templeton||29.14%||Franklin European Total Return|
The action in the European bond sector is more of a marathon than a sprint, but no less exciting. Italy is a top holding across all three funds, with sector champion Anne Beaudu allocating the most to Italian bonds, with these making up 16.53% of her fund.
Both David Simner of Fidelity and Franklin Templeton veteran John Beck compete well, but Simner has the edge. He allocates 18.53% of his fund to the UK and avoids France. Meanwhile, Beck’s top holding is the US at 13.54% and he also holds 3.82% in Australia.