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What companies run the country's best-managed funds?

Elite analysts reveal top choices for PH's best-performing funds from 2011 to 2015
By Entrepreneur Staff |



The Chartered Financial Analyst (CFA) Program is one of the world's most prestigious professional certification programs, and earning the CFA designation is no easy matter.  Successful candidates take an average of four years to earn their CFA charter and only 42 percent of candidates passed the rigorous three-level examinations in the last decade.



So, when CFA Society Philippines, the local chapter of the international association of chartered financial analysts, name their choices of the best-managed funds in the Philippines, investors sit up and take notice. In these volatile and uncertain times, it pays to heed the best of the experts' advice on where to put your investible money for maximum returns while minimizing risks.


Speaking at the announcement of the winners of the first-ever Best-Managed Funds Awards last Saturday, Cristina Arceo, president of CFA Society Philippines, said the awards are part of the group's advocacy towards the adoption of Global Investment Performance Standards.


More commonly known as GIPS, these refer to ethical standards for investment managers in disclosing performance to clients and the public. "This is just a humble first step towards that direction," Arceo said during the Philippine Retail Investors Conference at the SMX Aura in Taguig City.


Arceo explained that a committee of the CFA Society examined the track record of 69 mutual funds and unit investment trust funds sponsored by 18 institutions from December 31, 2011 to December 31, 2015. It ranked the funds using a measure of investment performance called Sortino ratio.  "It's the return of the fund less the risk-free return divided by downside deviation," she explained. "It's the equivalent excess return for every risk you are taking."



Unlike the usual return published by the mutual funds or UITFs which does not take into account the riskiness of the fund, the Sortino ratio is adjusted for negative volatility when returns fall below a specified rate of return. Funds with high Sortino ratios still tend to do better than most even during market downturns.


The following are the winners of the CFA Society Philippines Best-Managed Fund of the Year Award 2016:



Bond Funds (Medium-Term Peso):

Winner:                     ALFM Peso Bond Fund

1st Runner Up           EastWest Peso Intermediate Term Bond Fund

2nd Runner Up          UnionBank Philippine Peso Fixed Income Portfolio


Bond Funds (Medium-Term Dollar):

Winner:                    UB Gold Dollar Fund

1st Runner Up           Metro$ Max - 3 Bond Fund

2nd Runner Up          UnionBank Dollar Bond Portfolio


Bond Funds (Long-Term Peso):

Winner:                     Odyssey Peso Bond Fund             

1st Runner Up           SB Peso Bond Fund         

2nd Runner Up          UnionBank Long Term Fixed Income Portfolio


Bond Funds (Long-Term Dollar):

Winner:                     CBC Dollar Fund

1st Runner Up           Odyssey Philippine Dollar Bond Fund 

2nd Runner Up          Rizal Dollar Bond Fund


Balanced Funds (Peso):

Winner:                     SB Peso Asset Variety Fund

1st Runner Up           Odyssey Diversified Capital Fund

2nd Runner Up          ATRAM Dynamic Allocation Fund


Equity Funds (Peso):

Winner:                     Philequity Fund

1st Runner Up           BDO Institutional Equity Fund

2nd Runner Up          SB Peso Equity Fund



Among those who received the awards on behalf of the winning institutions were: Rob Ramos, trust officer and chief investment officer at Union Bank; Smith Chua, CIO at the Bank of Philippine Islands; Don Fernandez, head of the dollar fixed-income department at Metropolitan  Bank and Trust Co.; Andrew Chan, senior vice president at the Asia United Bank; Sim Tan, fixed-income fund manager at Security Bank;  Reginald Reyes of the trust and investment group at the Rizal Commercial Banking Corp.; Susan Ferrer, assistant vice president for portfolio management at China Banking Corp.; Deanno Bases, head of fixed-income at ATR KimEng Asset Management; Maricar Lopez, trust officer at Security Bank; Raul Joseph de Guzman, equity fund manager at Security Bank; Frederico Rafael de Ocamp, CIO at Banco de Oro; and Wilson Sy, fund manager at Philequity Management.



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