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BEIJING, Mar 30, 2010 - (ACN Newswire) - The winners of the China Lipper Fund Awards 2010 were announced by Thomson Reuters at a ceremony in Beijing today.
China Asset Management won both the Best Equity Fund Group and Best Mixed Assets Group awards, making them the top winner with six awards in total.
Individual award winners include Fullgoal Fund Management with two and E Fund Management, Galaxy Asset Management, Harvest Fund Management and Penghua Fund Management all won one award each.
Xav Feng, Lipper's head of research for China and Taiwan at Thomson Reuters said: "The China fund industry is rapidly developing with over 570 funds registered for sale in the country today. There has been much progress in the industry to comply with this growth including the criteria the China Securities Regulatory Commission (CSRC) unveiled last year. To ensure our winners were held to the higher industry standard, Lipper adopted a new methodology for the China Lipper Fund Awards this year, giving out only 10 classifications awards in total, including five for three-years and five for five-years. This year's winners deserve to be commended for delivering consistently strong risk-adjusted performance relative to their peers in such a competitive environment."
Henry Li, Managing Director and Head of China, Thomson Reuters, said: "We are expecting a more dynamic and maturing China fund market for 2010 and beyond, as the regulators lifted ban on new QDII funds recently and the approval of stock index futures, short selling and margin trading. Thomson Reuters will continue to deliver asset managers in China a better, faster, simpler, more cost-effective product suite as well as more effective risk management solutions, which in turn will help investors finding value and mitigating risk."
China is one of the 23 countries and regions covered by Lipper's program of 2010 fund awards and are part of the Thomson Reuters Awards for Excellence, a global family of awards that celebrate exceptional performance throughout the professional investment community.About the Thomson Reuters Awards for Excellence: The Thomson Reuters Awards for Excellence include the Lipper Fund Awards, the Lipper Hedge Fund Awards, the Extel Survey Awards, the StarMine Analyst Awards, and the StarMine Broker Rankings. For more information, contact markets.awards@thomsonreuters.com or visit excellence.thomsonreuters.com.
Notes to Editors
1. In calculating the awards, Lipper considered all those funds registered for sale in China, classifying both offshore and domestic funds together. Awards were given to funds with a 3, 5 and 10 year history as at the end of the evaluation year in equity, bond and mixed-asset Lipper Global Classifications with at least 10 distinct portfolios. Both group and fund awards were calculated using Lipper's Consistent Return score. A more detailed Fund Awards Methodology can be found at excellence.thomsonreuters.com/lipper.
2. Lipper, a Thomson Reuters company, provides independent insight on global collective investments including mutual funds, retirement funds, hedge funds, fund fees and expenses to the asset management and media communities. Lipper is the world's leading fund research and analysis organization, covering over 204,523 share classes and over 113,260 funds in 60 registered for sale (RFS) universes. It provides the free Lipper Leader ratings for mutual funds registered for sale in over 30 countries. Additional information is available at www.lipperweb.com .
3. Lipper Fund Awards designations do not constitute and are not intended to constitute investment advice or an offer to sell or the solicitation of an offer to buy any security of any entity in any jurisdiction. As a result, investors should not make an investment decision on the basis of this information. Lipper Fund Awards designations are for informational purposes only. Lipper is not responsible for the accuracy, reliability or completeness of the information obtained from Lipper. In addition, Lipper will not be liable for any loss or damage resulting from information obtained from Lipper or any of its affiliates. Past performance is not necessarily a guide to future performance and investors should remember that past performance is not a guarantee of future results.
Contact:
Daliea Mohamad-Liauw
Thomson Reuters
+852 2843 6332
daliea.mohamadliauw@thomsonreuters.com
Topic: Awards
Source: Thomson Reuters
Sectors: Daily Finance, Daily News
https://www.acnnewswire.com
From the Asia Corporate News Network
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