Jonathan Golan was named alongside 27 other managers who joined the list for the first time.
He also manages Man GLG’s sterling corporate bond fund and dynamic income funds.
Other newcomers to the list include Stuart Winchester, manager of the Allianz Asian Small Cap Equity Fund, Craig Inches who manages the Royal London UK Government Bond fund, and Matthew Tillett who manages the Premier Miton UK Value Opportunities Fund.
FE Fundinfo released the list of 200 'alpha' fund managers yesterday (February 13).
To compile the list, FE looks at the top UK retail fund managers’ performance over their entire careers.
The main focus is on a managers’ ability to create risk-adjusted alpha, which are above-benchmark returns attributable to their skill, as well as outperformance in both rising and falling markets, and a consistent ability to beat the benchmark.
A number of fund managers have now received the alpha rating over 15 years, including Jupiter’s Daniel Nickols and John Chatfeild-Roberts, ABI’s Harry Nummo and M&G’s Richard Woolnough.
In terms of fund groups, Fidelity had the highest number of alpha managers, followed by JP Morgan.
Baillie Gifford and Janus Henderson were tied in third place with seven managers apiece.
Fund management groups' 'alpha' managers, according to FE Fundinfo
Rank | Group | Number of alpha managers |
1 | Fidelity | 10 |
2 | JP Morgan | 9 |
3 | Bailie Gifford | 7 |
= | Janus Henderson
| 7 |
4 | Royal London | 6 |
5 | Allianz Global Investors GmbH | 5 |
= | Jupiter | 5 |
= | Liontrust | 5 |
= | Wellington Management Funds | 5 |
Source: FE Fundinfo
The most popular sector for alpha managers was the IA Global, with 62 alpha managers, showing a continuous rise from 2021 (43 managers) and 2022 (56 managers).
This was followed by the IA Europe ex UK and IA UK All Companies, each with 21.
Charles Younes, research manager at FE Fundinfo, said the ratings remain sensitive to market rotation especially given the “extreme” moves seen in 2022.
“I’m glad that many newly made alpha managers stuck to their valuation disciplines and got rewarded for them over the past 12 months with their investment approaches,” he said.
“Looking at the list of newly rated alpha managers, fund houses like Man GLG and Royal London have proven their capacity to recruit well and integrate them to their various investment styles which, in turn, provides them with the healthy environment for their managers to perform and achieve alpha manager status.”
sally.hickey@ft.com
