Fidelity is the Morningstar Multi-Asset Manager of the Year

PH&N and Manulife make the short list.

Christopher Davis 27 November, 2015 | 6:00PM

The Morningstar Multi-Asset Manager of the Year Award, which makes its debut this year, recognizes managers' ability to navigate multiple asset classes and build strong investment portfolios. The award acknowledges strong returns over the past year, but short-term returns take a backseat to long-term fundamentals. After all, there's a lot of noise in short-term numbers; a one-year hot streak is often the result of luck or extreme risk-taking.

Our finalists faced a challenging backdrop this past year. Stocks continued to look inexpensive relative to bonds, but looked less attractive when viewed next to historical measures, especially in the United States. Meanwhile, global markets were unnerved by a slowdown in China and other emerging markets. The dramatic and unexpected decline in oil prices hobbled the Canadian economy and hit energy stocks and bonds alike. Such weakness led the Bank of Canada to cut interest rates in January, to the market's surprise, and another time afterward. Investors expected the central bank's counterpart to the south to move in the opposite direction, but the U.S. Federal Reserve has held rates steady.

In early November, our six-person manager research team identified managers that have navigated this environment well. After winnowing down the field to a short list of finalists, the group then choose a winner. We unveiled our winners at the 21st annual Morningstar Awards on Nov. 25.

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Securities Mentioned in Article

Security NamePriceChange (%)Morningstar Rating
Alimentation Couche-Tard Inc44.03 CAD-0.27
Dollarama Inc51.39 CAD-0.02
Wells Fargo & Co22.81 USD1.20

About Author

Christopher Davis

Christopher Davis  Christopher Davis is Director of Manager Research at Morningstar Canada.

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