GLOBAL - US small cap growth was one of the best-performing asset classes in the first quarter of the year,with tope performer Sawgrass Asset Management posting returns of 21.5%, the latest PSN Top Guns list shows.
MFS Investment Management was at the top of the list for three year returns with 19.7% return and one of the highest flows for the quarter at $197m, PSN said.
Convertibles were another strong asset class in Q1, with ClearBridge Advisors producing the highest return for the quarter with 7.9%. The firm also made it into the top ten for three year returns.
PSN, produced by Informa Investment Solutions, is an investment manager search and evaluation database which tracks more than 1,600 money management firms and over 7,000 investment products.
European Equity produced a number of products performing at or close to 10% for the quarter, with Wellington Management achieving a 10.7% return over the three months. However, PSN said although the returns were good, asset flows were down for many European products. Los Angeles Capital Management, Goldman Sachs Asset Management, Pyrford International, and New Star were the only firms with positive flows for the quarter, it said.
PSN said it had also added managed ETFs to its Top Gun list due to growing demand for the products. Global balanced managed ETFs is the largest category of managed ETF investments with over 100 investments represented.
Sterling Global Strategies' tactical rotation product achieved the highest return for the segment with a 7% return for the quarter. All Top five products achieved over 6% return for the quarter and all have positive inflows, PSN added.
The top performers in the main asset classes were:
US equity - Sawgrass Small Cap Growth fund (21.5%)
US balanced - AIS Capital Management AIS 3x-6x (24.9%)
Global equity - Goodman Global Growth (15.3%)
Global fixed income - Guild Investment Management Global Income (5.6%)
International equity - Mirae Asset Management Russel Sect Lead Equity (16.5%)
International fixed income - Threadneedle Euro High Yield (9.6%)
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