Lipper awards celebrate strong year for mutual fund industry
A stock market rebound and healthy fund flows had the mutual fund industry in good spirits Wednesday night at the 2024 LSEG Lipper Fund Awards in New York.
The awards celebrate the success of US portfolio managers and the fund management companies that posted the strongest risk-adjusted returns in the industry.
Tom Roseen, head of research services at LSEG Lipper, called 2023 a “banner year” in the fund industry, with both fixed-income and equity funds posting strong gains in the wake of a particularly brutal 2022 for investors. He also pointed out that the financial community has showed true resolve in recent years, overcoming a series of fierce headwinds, including Covid, a spike in inflation and geopolitical concerns.
“The funds that were recognized tonight really were able to navigate the uncharted waters of these events and still post strong risk adjusted returns which is really what skilled investing is all about,” Roseen said.
The LSEG Lipper Fund Awards are based on the Lipper Leader for Consistent Return rating, which is an objective, quantitative, risk-adjusted performance measure calculated over 36, 60 and 120 months. The fund with the highest Lipper Leader for Consistent Return, or so-called “effective return,” value in each eligible classification wins the LSEG Lipper Fund Award.
Overall, 117 funds won an award for the three-year period ended November 30. Moreover, 116 funds were recognized with a Lipper Fund Award over the five-year period, and 108 funds won the prestigious trophy for the 10-year period.
The group awards are divided into large and small asset management groups based on a regional assets-under-management split. For the US awards, that breakpoint was $136.9 billion in fund assets under
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