Investment funds, who defended themselves better from the crisis? The winning ideas of the managers – Corriere.it

Slowing economy, inflation and rising interest rates put a strain on the fixed income market in 2022, which experienced one of the darkest periods in its history. The most penalized were securities with longer maturities because they were more sensitive to the tightening of monetary policies. «In this context, active managers had a slight advantage, because they were able to purchase securities with short durations, while the most penalized were passive funds which replicate bond indexes on all maturities. A context, however, difficult for everyone, with both the Morningstar stock and global bond indices down by an average of 10%. A situation that has also put balanced managers in difficulty, who have had to deal with the declines of both the stock and bond markets», said Sara Silano Editorial manager of Morningstar, an asset management analysis company. The American and global house which, as usual, has selected the champions who have made it and who will be on the podium of the Morningstar Awards for Investing Excellence on March 30, in Milan, at the Science and Technology Museum.

The finalists

Here we present six finalists: three bonds and three balanced, selected through a complex methodology. In the number of The Economy last Monday, 12 March, however, there were the names and numbers of the nine equity finalists, specialized on global stock exchanges but also in Piazza Affari and on the markets of the Old Continent which are mentioned in the table below. The finalists of the latter two categories were identified on the basis of a combination of historical results over medium to long-term risk-adjusted horizons with the Morningstar Analyst Rating, supplemented, where necessary, by the Morningstar Quantitative Rating (MQR) which makes a quantitative assessment and emulating the Morningstar Analyst Rating which classifies funds into five classes of merit: Gold, Silver, Bronze, Neutral, Negative. On the same evening, two asset management companies will also be awarded: the best management company overall – that is, across all specialties – and the best for sustainable investments.