In a sector where few managers have managed to outperform the benchmark, MacDonald is inching ahead with strong returns on the Thornburg Value fund, which he manages alongside Connor Browne.
MacDonald has achieved his first Citywire rating, debuting as a + rated manager. He is up 32.2% over three years to the end of August, compared with the Russell 1000 (30.3%) and the average Multi-Cap Core manager (20.1%).
MacDonald attributed his recent strong performance to his edge in stock selection, identifying top performers such as niche pharmaceuticals company Akorn, biotech firm Thermo Fisher Scientific and software provider Activision Blizzard.
- Sector manager ratio: 0.05
- For three years he ranked 31/268
Offen has earned his first rating, coming in as a Citywire + rated manager. The Russell 3000 has not proved an easy benchmark to beat for equity income managers, as high yielding defensive stocks have lost their luster. But Offen has done just that, returning 22.7% over three years to the end of August, ahead of the index’s 21.7% and the average Equity Income manager, who was up 18.2%.
The Fidelity Equity Dividend Income fund, which Offen manages alongside John Sheehy, is overweight information technology with a 12.6% allocation compared with the benchmark’s 8.3%. Real estate was the fund’s second biggest deviation from the benchmark, underweight 2.2% against the index’s 5.5%.
- Sector manager ratio: 0.09
- For three years he ranked 24/191
Jones may never have played guitar on stage with Keith Richards like his erstwhile namesake, but he has achieved his first Citywire + rating for strong performance. It comes, too, at a time when the real estate investment trust sector has been particularly tough terrain to navigate.
Jones is ahead of the average real estate fund manager, and has returned 23.2% on a total return basis over the past three years to the end of August. That compares with 21.7% from the benchmark and 22.3% from the average real estate fund manager over the same period.
- Sector manager ratio: 0.06
- For three years he ranked 43/83