Up to AAA
For the second time in as many years, Eddie Yoon has made the jump to an AAA rating in the month of May. While all three funds he runs have done very well, there is one standout performer: Fidelity Select Medical Equipment and Systems. It is the top fund in the Health/Biotechnology sector, up 70% over three years, well ahead of its closest competitor, T. Rowe Price Health Sciences, which has returned 48%, and shatters the benchmark’s 24%. It has managed this with the third best maximum drawdown of just 12%. The only two funds to expose investors to less volatility are in the third and fourth quartile for performance.
- Sector manager ratio: 1.03
- For three years he ranked: 1/19
Back in the A team
After almost a year as a + rated manager, Matthew Benkendorf earned himself an A rating in May. His Virtus Vontobel Global Opportunities fund is ranked sixth in the sector on a total return basis, up 29.6% in the past three years versus the benchmark’s 19%. Performance has been driven by blue chip names such as Amazon, up 70% over three years, and Visa, up 44%, as well as developing market names like HDFC Bank, which is up 48%.
- Sector manager ratio: 0.54
- For three years he ranked: 9/26
Moving on up
Making their way back into the rankings are Craigh Cepukenas, Matthew H. Kamm, and Jason White, who manage the Artisan Small Cap fund. Reaching the top quartile of the Citywire Small Cap Growth sector, the managers, who each have over 17 years of experience, have outperformed the average manager with returns of 34% versus 25% and beaten the benchmark’s 29.6% over three years. The Artisan team seeks to invest in companies that possess franchise characteristics, are benefiting from an accelerating profit cycle, and are trading at a discount to the team’s belief of their private market value.
- Sector manager ratio: 0.14
- For three years he ranked: 20/193