The AAA rating is the highest accolade that Citywire awards fund managers for their risk-adjusted returns, with only a select few of the 16,000 managers in our database hitting these heady heights.
In the latest ratings round-up, there was a total of seven fund managers who made their ratings debut at the very top and now sit among the 465 currently AAA-rated names.
Boasting strong risk-adjusted returns and impressive manager ratios, these newly rated names now face a fight to stay within the 10% of top managers.
Let’s take a closer look at the managers entering at the very top this month. For more information on our ratings and how manager ratios are calculated, please click here.
Patrick Hofer, AMG
Manager Ratio: 1.09
The first of our elite new intake is Patrick Hofer of Swiss group AMG. He is recognised for his work on the firm’s flagship European equity fund, Alpora Innovation Europa, which he co-runs with Birgit Heim. He was named on the fund in February 2015, while Heim has run it since its launch in October 2014.
The fund has a strong emphasis on technology, which accounts for almost a quarter of overall allocation in the strategy at present. The €71 million fund also has a strong home bias, with 30% allocated to the Swiss market. Meanwhile, 23% is invested in the UK at present. The fund operates with a high conviction approach, which is usually pared down to around 30 positions.
Scott Barnard, Amundi
Manager Ratio: 1.13
The first of two entrants from European AM giant Amundi is Scott Barnard. Barnard is recognised for his work in the US credit market, having been named on the Amundi Fds Bond US Corporate fund since its launch in January 2015. He co-runs the fund with Jonathan Duensing, who is also featured in this rundown.
In the fund – which has €793 million in assets – Barnard and Duensing have industrials as the largest single sector allocation, but at a significant underweight to the index. This accounts for 36.8% of exposure, while financials make up 35%. In terms of credit quality, the pair focus largely on BBB-rated debt, which makes up 48.7% of the fund.
Jonathan Duensing, Amundi
Manager Ratio: 1.13
Jonathan Duensing sits just above his co-manager due to his work across various strategies. Duensing is a senior portfolio manager within investment grade corporates and runs two globally focused bond funds in the Ucits universe, as well as one US-only mandate.
Duensing has achieved his AAA-rating while working across three different Citywire sectors: global high yield, US dollar high yield and US dollar corporates. He is also active in the Alternative Ucits sector, as he is a co-manager on the US-domiciled Nationwide Amundi Strategic Income fund alongside Kenneth J. Monaghan.