Thomson Reuters Lipper called out fund managers across the industry for excellence on Thursday, as part of its 2017 U.S. Fund Awards.
While a variety of groups received group awards for their overall performance in three-, five- and 10-year performance — including Vanguard and TIAA/Nuveen — a number of groups stood out for dominating certain fund categories.
American Funds, for instance, won 24 Lipper awards for its American Funds Target Date Retirement Series in the three- and five-year list of mixed-asset target funds for 2010-2055+ and other offerings.
“We congratulate American Funds for capturing awards in every target date fund category,” said Robert Jenkins, global head of research for Thomson Reuters Lipper, in a statement. “Their New Perspective Fund, EuroPacific Growth Fund, Small-Cap World Fund, and American Funds Target Date Retirement Series demonstrate the superior risk-adjusted returns we honor.”
According to American Funds, its retirement funds’ glide path aims to give investors exposure to income-oriented equities with track records of lower volatility.
“We designed our glide path to meet the dual goals of building and preserving wealth for investors,” said Matt O’Connor, president of American Funds Distributors, in a statement. “It’s not just how much equity we hold in our target date series — it’s what kind.”
In the 10-year category of mixed-asset target funds, T. Rowe Price was the big winner for its 2010-2040 funds and its T. Rowe Price Capital Appreciation Fund, the standout in the target date growth category over a 10-year period.