In at the top
Desai joins his co-manager Di Yao as a triple A-rated manager after racking up three years on the $200 million Putnam Global Technology fund.
The strategy is ranked top of its admittedly small category for risk-adjusted returns and came in second for total returns over three years. Over that time it returned 78.8%, compared with the average Global/ Science Technology fund, which was up 74.1%.
Desai attributed some of the fund’s recent outperformance to its position in the Alibaba Group, which has seen strong growth in 2017 and is well-positioned in cloud technology – a future growth driver, according to the manager.
- Sector manager ratio: 0.97
- For three years he ranked: 1/5
Vingers and Willadsen have landed their first ever Citywire ratings, coming in with AAs for their performance on the $717.4 million Touchstone Mid Cap Value fund. Despite its name, the fund sits in the Lipper Mid-Cap Core category, where it ranks 14 out of 80 funds for total returns over three years, with the two managers coming in second out of 109 for their information ratios.
The pair work for Boston-based value boutique LMCG Investments, which subadvises the fund for Touchstone. They are up 36.1% over three years, compared with the Russell Mid Cap Value’s 30.2% and the average Mid-Cap Core manager, who was up 27.4%. Over the second quarter of 2017, the duo attributed its outperformance to an overweight in healthcare and avoiding blow-ups in the energy sector, which have hurt some of its competitors.
- Sector manager ratio: 0.70
- For three years he ranked: 3/109
Welch, who manages the $423.7 million Principal California Municipal Bond fund alongside Citywire AA-rated James Noble, has grabbed his first rating, coming in as an AA-rated manager.
Over three years the fund is up 11.9% for three-year total returns, compared with the Bloomberg Barclays California Tax Exempt Muni Bond TR index’s 9.8% and the best exchange-traded fund (ETF) in the sector, the iShares California Muni Bond ETF, which was up 8.8%.
For the second quarter of 2017, Welch highlighted allocations in Escondido Union High School District, Coachella Valley Unified School District and Pittsburg Unified School District as positive performance contributors.
- Sector manager ratio: 0.63
- For three years he ranked: 11/43