TORONTO, Jan. 29 /CNW/ - Goodman Institutional Investments, a division of
Dundee Wealth Management, is the pooled fund sponsor with the most distinct
mandates earning the highest Morningstar Rating of 5 stars following the
release of Morningstar's December data update for institutional pooled fund
performance. Goodman has eight funds bearing Morningstar's top rating out of a
total of 13 rated funds. Seven of these 5-star funds are institutional
versions of retail funds sold under the Dynamic brand and managed by Goodman &
Co., Investment Counsel.
Desjardins Financial Security comes in second place with five of its 33
rated funds sporting a 5-star rating. All of the Desjardins pooled funds are
sub-advised by third-party fund managers. Acuity Investment Management Inc.
has the third-highest total with four top-rated funds out of 12 that are
eligible. Like Acuity's retail offerings, these funds are managed by the
firm's in-house team.
About 69% of the 984 funds in Morningstar's pooled fund database as of
Dec. 31, 2007 were assigned star ratings. Sixty-seven of these, including
multiple series of the same fund, are rated 5-stars, while 43 funds are rated
The Morningstar Rating is an objective, quantitative measure of a fund's
historical risk-adjusted performance relative to other pooled funds in its
category. Only funds with at least a three-year track record are considered.
Funds are rated on the basis of three-, five- and 10-year track records, as
available, which are then combined for an overall rating. A fund can only be
rated if there are a sufficient number of funds in its peer group to allow
comparison for at least three years.
For the calendar year 2007, the best-performing pooled fund category, as
measured by the median return of its constituent funds, was Asia Pacific
ex-Japan Equity with a gain of 18.8%. The best performer in that group was
London Life Asian Growth (AGF), which is sub-advised by David Chan of AGF
Asset Management Asia Ltd. Funds in the broader Emerging Markets Equity
category had the second-highest median return with 18.6%, followed by the
Natural Resources Equity category with 17.8%.
Overall, 30 of the 41 pooled fund categories had positive median returns
in 2007. The worst performer was the Real Estate Equity category with a 24.2%
median loss. However, this particular category contains only three funds that
have at least a one-year history.
Among individual funds, the best performer for the past year was GE Asset
Management India Equity, which returned 61.1%. This specialty fund is the only
one in Morningstar's pooled fund database to specifically target companies
operating in India. It was also the 10th-best overall performer in the 2006
calendar year with a 45.6% return, and its annualized return since its July
2005 inception is 53.6%.
The second-best performing pooled fund in 2007 was Goodman U.S. Equity
Growth Currency Neutral with a 51.6% return. This was easily the best return
in the U.S. Equity category, with the only other double-digit return coming
from that same fund's unhedged version, Goodman U.S. Equity Growth, which was
up 33.3%. The other 110 funds in the category had returns ranging from 6.2%
for yet another Goodman fund, Goodman Multi-Style U.S. Equity, to a loss of
25.2% for Kingwest U.S. Equity Portfolio.
Noah Blackstein, who manages the 5-star rated Goodman U.S. Equity Growth,
also produced a category-topping performance with his other mandate, Goodman
Global Equity Growth. Also rated 5 stars, the fund gained 48.8% in 2007,
trouncing all its competitors in the Global Equity category. The retail
versions of Blackstein's two funds, Dynamic Power American Growth and Dynamic
Power Global Growth Class, respectively, are also both rated 5-stars by
Morningstar Canada releases performance figures for pooled funds on the
13th business day of each month through its Principia for Pooled Funds
software. Principia is a pension fund research and presentation tool that
delivers comprehensive analysis on more than 950 Canadian institutional
investment funds and 220 market indices, benchmarks, averages and medians. Its
extensive coverage of the Canadian institutional fund market is complemented
by Morningstar Canada's unique holdings database.
About Morningstar Canada and Morningstar, Inc.
Morningstar Canada is the Canadian subsidiary of Chicago-based
Morningstar, Inc., a leading provider of independent investment research. The
company offers an extensive line of Internet, software, and print-based
products and services for individuals, financial advisors and institutions.
Morningstar provides data on more than 260,000 investment offerings, including
stocks, mutual funds and similar vehicles. The company has operations in 18
countries and minority ownership positions in companies based in three other
For further information:
For further information: Scott Mackenzie, President and CEO, Morningstar
Canada, (416) 484-7800, email@example.com; Christian Charest,
Associate Editor, Morningstar Canada, (416) 484-7817,