Thursday 17th of June 1999

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The three fund managers vying for the IPAC Fund Manager of the Year crown this year are last year's winner Tower Asset Management and finalist AMP Asset Management, along with Armstrong Jones.
This year there are nine categories, New Zealand equities, property, fixed interest and cash and mortgages, three balanced fund categories and international equities and bonds.
New Zealand Funds Management has the lion's share of nominations - seven in total. Armstrong Jones has four nominations, BNZ Financial Services 3, two each for AMP and Tower Managed Funds and one each for WestpacTrust, Royal & SunAlliance, BT Funds Management, ANZ Funds Management and Guardian Trust. (For a full list of nominations visit the Features section).
This is the eighth year IPAC has presented awards to the funds management industry, and this time around several changes have been made to the judging process to make them more transparent and more easily understood.
The overall winner will continue to be judged on a qualitative basis using IPAC's four P process (people, process, portfolio and performance), however the categories will be decided on a quantitative basis. As in the past NZ Funds, which has shareholders in common with IPAC Australia, is not considered for the nominations.
However, all retail, New Zealand-based, fund managers and their funds have been considered for the category nominations, including NZ Funds.
To be in the running for an award a fund has to meet a number of basic criteria, including; active management, at least three year's performance and a minimum size of $10 million. (Details here).
The Award winners will be announced on July 16. There will be no awards function this year.