Investing May 15, 2003

InvestorForce Releases Top Money Managers for the Trailing Year

May 15, 2003 (PLANSPONSOR.com) - Ashmore Investment Management Limited of London was again the king of InvestorForce's institutional money manager hill in the firm's quarterly survey of money manager performance for the trailing year.
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The first quarter return of 11.74% marked the fourth quarter in a row the money manager led the pack.   The honor this time went to the firm’s Russian Debt portfolio, which returned 45.34% over the previous 12 months, from March 31, 2002 to March 31, 2003, to lead all in the emerging markets debt category, according to a news release.

Leading the pack in the InvestorForce equity universe for the year was   Arnhold and S. Bleichroeder Advisers, headquartered in New York City.  Inthe category of International Equity, its Diversified International Equityportfolio returned 1.58% for the one-year period, despite being down 2.04% in the first quarter.

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Top Overall Managers

Most of the winning categories were concentrated in fixed-income during the first quarter’s trailing year results.   Behind Ashmore’s golden child was the Brandywine Asset Management International Fixed Income with a 36.20% return.   Other leaders included:

  • Brandywine Asset Management Global Fixed Income (33.18%)
  • Hoisington Investment Management Company Fixed Income Composite (23.18%)
  • SEB Asset Management America Inc. Core Fixed Income (18.35%)
  • Dimensional Fund Advisors Inc. DFA 5 YR Government Portfolio (14.12%)
  • SMH Capital Advisors, Inc. High Income (13.96%)
  • Duff & Phelps Investment Management Co. Real Estate Investment Trust (6.14%)

Equity investments were not so lucky, aside from the aforementioned Arnhold and S. Bleichroeder Advisers, the Nordea Investment Management Eastern European Equity was up 1.17%.   The only other category leader in the black was Arnhold and S. Bleichroeder Advisers Diversified Global, up 0.45%.   The remaining category leaders were:

  • RS Partner/Small-Cap Value (-2.40%)
  • First Pacific Advisors, Inc. Contrarian Value (-3.88%)
  • Select Equity Group Select Equity Small Mid Cap Core (-5.73%)
  • Eagle Capital Management, LLC Large Value (-7.74%)
  • Strong Capital Management, Inc. Small Capitalization Growth Equity (-9.75%)
  • Groesbeck Investment Management Tax Exempt Institutional Growth of Income (-10.14%)
  • Polen Capital Management Separate Managed Accounts (-13.20%)
  • Legg Mason Capital Management, Inc. Legg Mason Mid-Cap (-13.28%).

To obtain a complete copy of the Quarterly Market Review, visit the InvestorForce Web site at  www.investorforce.com  and click on “Quarterly Market Review” found in the “What’s New” Section.

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