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Walter Aylett is South Africa’s asset management rock star – all the Fund Awards winners here!

Walter Aylett, founder of Aylett & Co fund managers

Walter Aylett is South Africa’s best equity fund manager, with his Aylett Equity Prescient Fund taking top honours at the prestigious Morningstar Fund Awards. Aylett has been in the game for decades, regularly making his mark for superior investment performance in the ranking tables, though as a value-oriented investor there are times he has had to wait for his portfolio of undervalued gems to deliver the goods. I’ve been lucky enough to interview Aylett over the years. Aside from being a superior asset manager, Aylett has always been generous with his advice to amateur investors hoping to emulate his moves. And, he’s also fairly down-to-earth in an industry in which success can so easily inflate egos with hydrogen. The last time I chatted to Aylett, for a private subscription investment newsletter, he had just returned from a trip to the US to hear investment sage Warren Buffett speak at his company Berkshire Hathaway’s general meeting. There, he had been reminded of the most important rules he has learned from Buffett and his right-hand man Charlie Munger:

  • Rule number one: Don’t lose money;
  • Rule number two: Don’t forget rule number one.

Aylett has a voracious appetite for reading, saying: “If people want to do well in money markets you’ve got to read as much as you can.” But, while he’s obviously kept up-to-speed with the important business and finance books, Aylett is also a believer in aiming for work-life balance. In a review of Tuesdays with Morrie, by Mitch Album, Aylett said: “It reminds you to smell the roses. It’s not all about money. It’s about being successful, but in the end we all die.” – Jackie Cameron

From Morningstar

CAPE TOWN/LONDON — Morningstar Research (Pty) Limited, a subsidiary of Morningstar, Inc. (NASDAQ: MORN), a leading provider of independent investment research, today announced the winners for its 2017 South Africa Fund Awards.

The annual Morningstar South Africa Fund Awards recognise funds and fund houses that added the most value for investors within the context of their relevant peer group in 2016 and over longer time periods. Morningstar selects the finalists using a quantitative methodology with a qualitative overlay that considers the one-, three-, and five-year performance history of all eligible funds, and adjusts returns for risk using Morningstar Risk, a measure that imposes a higher penalty for downside variation in a fund’s return than it does for upside volatility.

“This year’s winning funds and fund houses delivered strong returns after adjusting for risk, surpassing the performance of their peers”, Tal Nieburg, Managing Director for Morningstar South Africa, said. “The ability to have a long-term approach to investing is a basic tenet of Morningstar. We encourage the patient approach demonstrated by the selected winners that serves to help investors reach their financial goals”.

The winners for the 2017 Morningstar South Africa Fund Awards are:

FUND CATEGORY AWARDS: WINNERS:
Best South Africa Equity Fund Aylett Equity Prescient
Best Aggressive Allocation Fund PSG Balanced
Best Cautious Allocation Fund Bridge Stable Growth
Best Moderate Allocation Fund Nedgroup Inv Opportunity 
Best Flexible Allocation Fund Centaur BCI Flexible 
Best Bond Fund Coronation Bond
Best Global Equity Fund iShares Core MSCI World USD

 

FUND HOUSE AWARDS: WINNERS: 
Best Fund House: Larger Fund Range Prudential Portfolio Managers (SA) Unit Trusts Limited
Best Fund House: Smaller Fund Range Foord Asset Management
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