The Absa Multi Management team was presented with the award for the best bond fund for the second consecutive year in recognition of exceptional client performance at the Morningstar award ceremony in Cape Town last night.
The Morningstar fund category awards and fund house awards are based on Morningstar fund data for the period 1 January 2015 to 31 December 2015.
Managed by the Absa Multi Management investment team comprising Neville James and Sheetal Rama Nana, the bond fund has now won a total of five awards in just two years under their stewardship. Last month, the team won the Raging Bull Award for the best ASISA South African Interest Bearing Variable Term Sector for the year ending 31 December 2015.
The fund was awarded this accolade for the second consecutive year, underscoring its excellent performance. The fund is an actively multi-managed fund for investors seeking exposure to the South African fixed-interest market, combining the collective expertise of selected fixed-interest managers with a proven track record.
Armien Tyer, Head of the Investment Cluster at Barclays Africa Group, says these achievements are a reflection of the inherent talent in the investment team across the Investment Cluster, including Absa Active Asset Management and Absa Multi Management.
“This is further confirmation that we are more than a bank and this achievement builds on our investment pedigree and several other pockets of excellence. We have now completed the transition to being a fully functional Asset Management business with increased depth and breadth of skill, and overall investment experience and diversity. We are now in an even stronger position to serve our clients and to consistently deliver on their diverse needs,” he says.
The Absa Property Equity Fund has also performed strongly relative to its peers recently. “The other noteworthy performance has come from our newly created Absa Core Equity Fund which in the institutional space outperformed its benchmark by 4% over the last year, while our Pan African Equity Fund and bond funds have also continued to do well. The Absa Absolute Fund remains a best in class fund with continual institutional interest and strong inflows,” concludes Tyer.