Who Deserves Manager of the Year Honors for 2017? Readers Weigh In

Morningstar's manager research analysts determine which fund managers are nominated for and are ultimately awarded Morningstar's Fund Manager of the Year awards; the winners will be announced live on Jan. 24 during CNBC's "Power Lunch" program.

But if Morningstar.com readers had a say in it,

. Giroux cleaned up in

, too, and he also received

--the first year in which Morningstar named a winner for that group.

Posters lauded the fund's consistently stellar results; it has landed in the moderate-allocation category's top third in nine of the past 10 years.

"David Giroux gets the nod for Allocation Manager of the Decade," Lionsgate said. "There aren't enough o's in smoooooth to describe the ride you get from this fund. Makes me wish I had more to invest."

"As a retired investor, I easily sleep at night with more than 20% invested in T. Rowe Price Capital Appreciation," bmcwjb wrote.

Radic is also a fan of allocation funds, including T. Rowe Cap App. "At the age of 60 I find allocation funds work well for me and that is about all I use anymore. I like the smother ride."

Cegibbs was similarly lavish with the praise for Giroux’s efforts. "Not an index hugger," this investor observed. "Effectively leverages resources from T. Rowe Price's many areas of investing expertise and experience."

Lionsgate also takes comfort in the fact that Giroux's charge is closed to new investors; limiting new asset growth could help preserve maneuverability. "Closing the fund allows Mr. Giroux to operate at peak performance, so selfishly, I hope it stays closed."

'Hands-Down Winner' In contrast to Giroux's clear victory in the allocation/alternatives category, posters were varied in their thoughts on who should take home the awards in the other asset classes.

T. Rowe Price again dominated the discussion in the domestic-equity group: Both Henry Ellenbogen of

Ultimately, Ellenbogen received the most reader endorsements; New Horizons gained a scorching 31% last year and has beaten 99% of its small-growth peers on his watch. That type of outperformance is particularly impressive when you consider that Ellenbogen manages more than $20 billion in assets in this strategy, a huge sum in the small-cap space.

For other posters, Puglia was the most deserving of the domestic equity award. He is embarking on his 25th year as manager of the Gold-rated fund; Katie Reichart, a director in Morningstar's Manager Research group, points out that the fund's record over his tenure is among the best of any large-growth fund. Readers agreed.

"Larry Puglia is consistently good but last year was outstanding," wrote bmcwjb. "Hands-down winner."

Other readers' allegiances were with another veteran nominee, Steve Wymer from

Cegibbs

gives Wymer the nod for his "great long-term record with superb consistency."

Among the international equity nominees, readers' allegiances were with the teams overseeing

that the fund has taken on a more pronounced growth profile and is riskier than it has been in the past.

Following on the heels of a nearly 9% gain in 2018,

. That commentary wasn't lost on

cegibbs

, who asked, "Do we really want to reward Pimco management after raising fees during a time where they are increasing assets under management?"

It wouldn't be a proper Discuss forum thread without some side debates breaking out here and there, and the "reader’s choice" discussion was no exception.

One of the big discussions centered around the merits of naming managers of the year in the first place. Put Buggybank firmly in "why bother/just index" camp.

"What evidence do you have that your managed funds will continue to outperform their benchmarks for the next 5 or 6 decades?" this poster asked.

Cegibbs also sees indexing as a safer bet though hasn't entirely lost faith in active management on the bond side. "The older I get and the more experienced I become, I am much more convinced that indexing equities makes the most sense. Active management has a much better chance of adding value on the bond side."

Similarly, Peter5 argued that investors can successfully blend active and index funds int heir portfolios.

"I have had very good success finding solid active managers and investing with them. I also own a number of index funds," this poster wrote.