04 NOV, 2023: The winners of Citywire’s 18 performance awards across the main sectors and asset classes over three years have been revealed for 2023.
The performance awards go to investment companies and trusts whose fund managers achieve the best risk-adjusted returns in their categories in the three years to 31 August. To do this Citywire’s panel of four judges analysed their growth in net asset value (NAV) and rewarded those funds that had given the most return for each unit of risk.
For investment companies investing in publicly traded equities, or shares, they looked at which scored the highest ‘information ratio’ against a stock market index. Under this measure, which rewards trusts with smoother investment returns over those that have been more lumpy or volatile, any positive reading up to 1 is considered good, over 1 exceptional.
Best North America Equities trust: Middlefield Canadian Income!
| Investment trust or company | Three-year information ratio | Three-year net asset value (NAV) growth % | Three-year shareholder return % | Index benchmark |
|---|---|---|---|---|
| Middlefield Canadian Income (MCT) | 0.46 | 50.47 | 45.99 | S&P / TSX Composite TR USD |
North America Equities covers more than just the US and last year’s winner, JPMorgan American, faced competition from north of the border in Middlefield Canadian Income.
And it was Middlefield (MCT) that prevailed by a whisker in terms of its performance against Canada’s S&P/TSX Composite index. Shares in the infrastructure-weighted portfolio have derated this year with their discount widening to 21% from a one-year average of 12%.
Congratulations to fund managers Dean Orrico (right) and Rob Lauzon (left) who accompanied the trust’s chair, Michael Phair (left middle), to collect the award!
You can view the full article and list of winners here:
Citywire Investment Trust Awards 2023: Best performers & Best Board!
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