Morningstar has announced the winners of its annual fund awards, with Invesco Perpetual and Fidelity among the fund groups to take home major accolades.
The awards recognise those retail funds and fund groups that added the most value for investors within the context of their relevant peer group in 2013, and over longer time periods. Morningstar selected the winners using a quantitative methodology with a qualitative overlay that considers the one, three, and five-year performance history of all eligible funds. Returns are also run through a risk screen using Morningstar Risk, a measure that imposes a higher penalty for downside variation in a fund's return than it does for upside volatility. The winners of the awards are as follow...
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