Funds People Stamp of Approval 2019: our funds Etica Azionario, Etica Bilanciato and Etica Rendita Bilanciata were recognised by Funds People as the best-selling funds in the market and received the Blockbuster stamp with a Ⓑ rating.
Funds People is a specialised magazine focusing on asset management services aimed at asset management professionals, with daily information.
Funds with the Funds People 2019 Stamp
The Italian market has more than 30,000 registered fund categories. The Funds People Analysis team, using a proprietary econometric model, has selected 713 products with the Funds People Stamp, which are highlighted for one or more of the three criteria detailed below:
- Analysts’ Favourites – Ⓐ Rating
These funds obtained a minimum of five fund selector votes in the annual survey conducted in Italy, Spain and Portugal. There are 31 funds registered in Italy with this rating. - Blockbuster – Ⓑ rating
These are the best-selling funds in the market. These products held €200 million or more of assets in Italy as at 31 December 2018. For international funds, only the volume attributable to Italian clients is taken into account, while for local funds it also includes the amount of inflows in the last three years (25% of the fund’s assets), through the Morningstar Direct platform. In Italy, there are 365 products with this rating. - Funds People Consistent – Ⓒ rating
The Analysis team, led by María Folqué, has developed a selection model precisely to distinguish the most consistent products in each category, using Morningstar Direct data from the last five years. In particular, they analyse the funds available for sale in Italy with a minimum track record of three years at the end of 2018. For each individual fund only one class is selected: the oldest available for sale in Italy.
Metodologia
Analysis for the Funds People Stamp uses a universe of 5,776 products. Each fund is compared with those in the same category using two scorecards:
- Return and cumulative volatility over 1, 3 and 5 years are considered.
- Then closed cycle return and volatility data over the last five years (2014, 2015, 2016, 2017 and 2018) are used to counter the cumulative effect.
In both cases, return and volatility have a weight of 65% and 35% respectively. Funds ranking in the first quintile by return and volatility are then filtered out and funds with less than €50 million of assets as at 31 December 2018 are also eliminated.
There are 363 Italian products with a Funds People Consistent 2019 rating. In the three cases, guaranteed money market, short-term fixed income and target-return funds are excluded from the analysis. Out of a total of 713 products, only 6 funds were awarded Funds People triple ratings.
More information on the method used to assign the Funds People Stamp can be found on the Funds People website.
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