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3 Funds Run by Topnotch Managers

We look at the nominees for Morningstar's Outstanding Portfolio Manager award and their funds.

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Susan Dziubinski: Hi, I'm Susan Dziubinski for Morningstar. Last month, we introduced the Morningstar Awards for Investing Excellence. We nominated several topnotch professionals for the Outstanding Portfolio Manager award. Here is a look at some of the nominees and their funds. All of these funds are currently open to new investors.

Robby Greengold: Joel Tillinghast has managed Fidelity Low-Priced Stock for nearly 30 years. Since the fund's 1989 inception, Tillinghast has steadily built one of the finest track records of any fund in the mid- or small-cap Morningstar Categories. He has achieved that by reliably preserving shareholder capital while participating healthily on the upside. And that pattern derives from Tillinghast's extraordinarily methodical approach, his ability to spot high-quality companies, and his refusal to chase short-term fads. This portfolio is broadly diversified across hundreds of companies, and for each of those positions, Tillinghast focuses on the long run. Tillinghast is really looking for resilient businesses that have staying power. What that means in practice is that he is avoiding, or he is trying to avoid, companies that lack an enduring competitive advantage. He steers clear of companies that are loaded up on too much debt. And he looks for honest, capable management that he feels like he can invest with for the long run. Almost without fail, this strategy has offered equity investors refuge during periods of market volatility. And with Tillinghast's steady hand at the wheel, we continue to have high confidence in this Silver-rated fund.

Alaina Bompiedi does not own (actual or beneficial) shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.