Thomson Reuters announced the winners of the Lipper U.S. Fund Awards Wednesday, and two fund families won multiple awards in the top group categories.
TIAA Investments won the Best Overall Large Fund Company for the fourth year in a row for the best three-year risk-adjusted performance across multiple asset classes. It also won for Best Mixed Assets Large Fund Company, also based on a three-year risk-adjusted performance, for its Lifecycle, Lifecycle Index, Lifestyle and Managed Allocation Funds.
“The Lipper award is more than just an accolade – it validates how we see and do things differently than our peers, ” said Robert Leary, CEO of TIAA Global Asset Management, the renamed global asset management business of TIAA, formerly known as TIAA-CREF.
Thrivent Mutual Funds, like TIAA, also won two group awards, for Best Overall Small Fund Company and Best Mixed Assets Small Fund Company. It was its second consecutive win for the latter category.
This week’s winners “have all exhibited a high level of skill and talent in navigating the ever complex and interconnected markets of today,” said Robert Jenkins, Global Head of Research at Thomson Reuters Lipper in a statement.
Guggenheim won for Best Fixed Income Small Fund Group for the second year in a row and Oakmark Funds won for Best Equity Large Fund Group for the second time — the last time was in 2014.
“We are committed to our consistent philosophy of patient value investing, and believe that our Funds show the merit of our unwavering approach over time,” said Kristi Rowsell, president of Harris Associates and the Oakmark Funds.
Other winners in the major group categories were PRIMECAP Management Co. for the Best Equity Small Fund Group and Metropolitan West Asset Management for the Best Fixed Income Large Fund Group.
Metropolitan West is now part of TCW, whose Total Return Bond Fund and Core Fixed Income Fund were honored as the best funds in the for the U.S. Mortgage Fund and Core Fixed Income Fund categories, respectively, based on 10-year performances.
“Winning these awards for the 10-year period speaks to the strength of our long-tenured investment teams and their proven track records across market cycles,” said David Lippman, chief executive of TCW. “Markets have shifted dramatically over the past 10 years, yet we have maintained a disciplined and consistent, bottom-up investment approach that is designed to produce strong results over the long term.”
American Funds won 19 awards for 11 of its funds, marking the eighth consecutive year that American Funds has taken home multiple Lipper awards. Eight of the firm’s target date funds were honored as well as its New Perspective Fund, SMALLCAP World Fund and U.S. Government Securities Fund.
“These awards are recognition of our long-term focus, low fees and objective-based investing, which aligns our firm with investors saving for or living in retirement,” said Matt O’Connor, president of American Funds Distributors.
Altogether there were more than 300 winners announced by Lipper, which honors funds and fund management for strong, consistent risk-adjusted performance compared with their peers. Lipper scores funds for their risk-adjusted returns over 3-, 5- and 10-year periods, taking into account each fund’s expenses and reinvested distributions but excluding sales charges. Funds can win for multiple time periods, which explains how 11 funds from American Funds can win 19 awards.
— Related on ThinkAdvisor:
- Some Active Funds Outperform ‘Misleading’ Industry Averages: Fidelity
- Mutual Fund Investors Face Tax Season ‘Double Whammy’