We are delighted to announce that the Colchester Global Government Bond PIE Fund has been awarded the 2023 Morningstar Fund Manager of the Year Award – Fixed Interest Category, New Zealand. This award is a milestone win for Colchester and the PIE Fund has managed to deliver considerable alpha in a tough environment. “It was essential for us to deliver a specialist sovereign bond and currency strategy for NZ intermediaries and institutions in an accessible PIE format, and we have been impressed with the warm reception that we have received.” said Keith Lloyd, Group Chief Executive Officer & Deputy Chief Investment Officer.

Morningstar also acknowledges the recent difficult period for investors. “The unprecedented market volatility over geopolitical risks, economic uncertainty and the ongoing fallout of the pandemic brought challenges to even the most sophisticated of investors in 2022,” said Annika Bradley, Morningstar Australasia’s Director, Manager Research.

“Bonds last year didn’t deliver on their traditional role of providing defensive characteristics in an investor’s portfolio”, commented Lloyd. Even so, in a dismal year for bonds the Colchester Global Government Bond PIE Fund delivered 4.73% (gross of fees) excess return for the 12 months to 31 December 2022. Specifically, the fund returned -8.61% (gross of fees) as compared to the benchmark of -13.34% for this 12 month period.

This excess return reflects Colchester’s long-term, disciplined approach to bonds and currency selection. “Colchester’s unwavering investment approach has delivered consistent levels of alpha over differing market cycles for over 22 years now. We find clients normally appoint Colchester for the liquidity and low correlation characteristics we offer relative to other fixed income securities such as credit and high yield, and more broadly the traditional growth assets”, remarked Lloyd.

“As a Kiwi myself, I personally wanted to make sure we are listening to the needs of NZ investors and for that reason we are committed to our PIE fund and servicing this independently minded, self-directed NZ marketplace”, concluded Lloyd.

Media contact:
Monica Hood
0431 478 780
[email protected]

Description From Morningstar

Fund Manager of Year: Fixed Interest Colchester Global Government Bond PIE remains a sound choice for global sovereign bond exposure. It boasts a robust process and a well-credential and collegial team, so there is much to like. Fixed-income veterans and Colchester co-founders Ian Sims, Keith Lloyd, and Kathryn Elsby have worked together since 2000, leading an experienced investment team that exhibits low turnover. While the leaders have been in place long term, there is depth to the investment talent.

About Colchester Global Investors (as at end February 2023)

Colchester Global Investors is a value-oriented global government bond manager. Our investment approach values government bond markets according to their real yield and global currencies according to their real exchange rate valuations. We adjust both the bond and currency valuations for financial stability and ESG factors. Chairman and CIO Ian Sims founded the firm in 1999 with the headquarters being located in London. The firm also has offices in Dubai, Dublin, New York, Singapore and Sydney.

Colchester has funds under management of approximately AU$43bn across four core strategies being global sovereign bonds, global inflation-linked bonds, local currency emerging market debt and an alpha program. The same investment process is applied to all strategies managed by Colchester. The firm manages assets for global institutions including Corporate and Public Pension Funds, Foundations, Endowments, Insurance and Sovereign Wealth clients. Colchester enjoys a long-standing history of managing money for many prestigious Australian and New Zealand institutions, with assets under management of approximately AU$6 billion.

The Colchester Global Government Bond Fund is currently rated Highly Recommended by Lonsec and Zenith, and The Morningstar Analyst RatingTM for Colchester Global Government Bond Fund is ‘Bronze’ as of 27/05/2022. Current platform listings include, AMP MyNorth, AMP Portfolio Care, AMP Summit, AMP iAccess, Asgard, Ausmaq, BT Panorama, BT Wrap, CFS First Choice, CFS FirstWrap, Grow Wrap, HUB24, IOOF eXpand, IOOF FinHQ, IOOF Pursuit, Macquarie Wrap, Mason Stevens, MLC Navigator, MLC Wrap, Netwealth, Oasis (Voyage), OneVue Wrap, Portfolio One, PowerWrap, Praemium, Symetry, uXchange, Wealth02 and Xplore Wealth.

The Colchester Emerging Markets Bond Fund is currently rated Recommended by Zenith and Lonsec. The current platform listings include AMP North, Asgard, Ausmaq, BT Panorama, CFS FirstWrap, HUB24, Macquarie Wrap, Netwealth, Praemium and uXchange.

The Colchester Green Bond Fund is currently rated Recommended by Zenith.

1The Morningstar Analyst Rating™ for Colchester Global Government Bond PIE Fund is ‘Bronze’ as of 27 May 2022. © 2023 Morningstar, Inc. All rights reserved. Neither Morningstar, its affiliates, nor the content providers guarantee the data or content contained herein to be accurate, complete or timely nor will they have any liability for its use or distribution in New Zealand. This report or data has been prepared for clients of Morningstar Australasia Pty Ltd (ABN: 95 090 665 544, AFSL: 240892) and/or New Zealand wholesale clients of Morningstar Research Ltd, subsidiaries of Morningstar, Inc. Any general advice has been provided without reference to your financial objectives, situation or needs. For more information refer to our Financial Services Guide at www.morningstar.com.au/s/fsg.pdf. You should consider the advice in light of these matters and if applicable, the relevant Product Disclosure Statement before making any decision to invest. Morningstar’s publications, ratings and products should be viewed as an additional investment resource, not as your sole source of information. Morningstar’s full research reports are the source of any Morningstar Ratings and are available from Morningstar or your adviser. Past performance does not necessarily indicate a financial product’s future performance. To obtain advice tailored to your situation, contact a financial adviser. Some material is copyright and published under licence from ASX Operations Pty Ltd ACN 004 523 782