What You Need to Know
- Fidelity's Joel Tillinghast has managed the Fidelity Low-Priced Stock fund (FLPSX) for almost 22 years.
- Pimco’s Sonali Pier won for Rising Talent and Dodge & Cox for Exemplary Stewardship.
- Dodge & Cox won the Exemplary Stewardship award.
Morningstar has announced the winners of its 2021 U.S. Morningstar Awards for Investing Excellence in three categories: Outstanding Portfolio Manager, Rising Talent and Exemplary Stewardship.
They are Fidelity’s Joel Tillinghast for Outstanding Portfolio Manager; Pimco’s Sonali Pier for Rising Talent and Dodge & Cox for Exemplary Stewardship.
Joel Tillinghast has managed the Fidelity Low-Priced Stock fund (FLPSX) for almost 22 years, shaping its “long-term track record to be among the industry’s best,” according to Morningstar. He focuses on “resilient companies with staying power, doesn’t chase fads, avoids firms that lack enduring competitive advantages or load up on debt, and scrutinizes executives’ integrity and prowess.“
Morningstar noted that although his patient and risk-conscious approach can lag during bull markets, it has also produced steady gains, subdued volatility and impressive downside protection, keeping its risk-adjusted results consistently strong, especially during stressed market environments such as 2020′s pandemic-induced bear market.
The fund had a large (41%) stake in non-U.S. stocks as of January, well above its typical peer’s 6%, according to Morningstar, and a preference for consumer cyclical stocks and relatively light exposure to financial stocks, which also helped it stand out from the herd. Tillinghast is supported by a team of more than 100 global analysts and five co-managers.
Pimco’s Sonali Pier became one of the named managers on Gold-rated Pimco Diversified Income (PDIIX) in February 2017 after working at Pimco for four years and has distinguished herself by a “willingness to take less risk even if that positioning goes against conventional wisdom,” according to Morningstar.