Morningstar recently announced its Manager of the Year awards for 2012. Their criteria: managers must be Morningstar Medalists, must have generated strong long-term risk-adjusted returns, and must be strong stewards of investor capital. Along with domestic, international and fixed income, Morningstar added alternatives and allocation funds to their Manager of the Awards in 2012. The winners by category are:
• Domestic/Large Blend: Mairs & Power Growth (MPGFX)
• International/Foreign Large Growth: Virtus Foreign Opportunities (JVIAX)
• Fixed Income/Intermediate-Term Bond: PIMCO Investment Grade Corporate Bond (PBDAX)
• Alternatives/Market Neutral: TFS Market Neutral (TFSMX)
• Allocation/Moderate Allocation: T. Rowe Price Capital Appreciation (PRWCX)
Overall in 2012, emerging markets were up 18%, closely followed by international at 17% and domestic equities (S&P 500) at 16%. High-yield emerging corporate market bonds were up almost 20%.
