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2011 Fund Manager Award Winners Announced

On Jan. 4, Morningstar presented its annual Fund Manager of the Year awards. The 2011 winners are ...

Morningstar, 02/01/2012

Domestic-Stock Fund Manager of the Year for 2011
Scott Satterwhite, James Kieffer, and George Sertl

  • Artisan Mid Cap Value ARTQX: 2011
  • Artisan Value ARTLX: 2011 Return/
    Category Rank: 5.49%/15
  • Artisan Small Cap Value ARTVX: 2011
    Return/Category Rank: negative 3.17%/49

Scott Satterwhite, James Kieffer, and George Sertl shone in 2011 but didn’t get off to a running start. Although each of the three funds they manage gained more than 10% in 2010 and continued on an upward trek in early 2011, the market favored companies that were more highly leveraged than what this team prefers and the funds lagged their peers moving into the year. Yet, when the tide turned and risky fare was punished, this team’s approach proved resilient. The managers achieved their success in 2011 and have amassed an impressive longer-term record by applying a patient, contrarian approach to companies of all sizes.

International-Stock Fund Manager of the Year for 2011
William Browne, John Spears, Tom Shrager, and Bob Wyckoff

  • Tweedy, Browne Global Value TBGVX: 2011
    Return/Category Rank: negative 4.13%/5

This fund and its management team stood out for limiting losses in a brutal year for international-stock investing. Tweedy, Browne Global Value lost 4.13% in 2011, which was roughly 800 basis points better than rival funds and the MSCI EAFE Index.

The fund’s biggest help came from heavy positions in tobacco and alcohol stocks, which had a standout year. The portfolio held sizable positions in Philip Morris PM and British American Tobacco BATS plus spirits-maker Diageo DGE, all of which were up double digits in 2011. But the real key to the fund’s resilience in 2011 was the portfolio’s distance from banks, the epicenter of Europe’s problems. The fund has one of the smallest bank weightings in its category, with a few non-European banks holding measured spots in its portfolio.

Fixed-Income Fund Manager of the Year for 2011
John Carlson

  • Fidelity New Markets Income FNMIX: 2011
    Return/Category Rank: 7.93%/1

This fund focuses on buying emerging-markets bonds denominated in U.S. dollars, and 2011 was a good year for that mandate. But its stellar results owe much to manager John Carlson’s experience and deft management in what was a rocky environment for emerging markets.

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