Quantative judging process - Performance screening criteria
A weighted score was given to each fund's percentile ranking within its sector over each of the three discrete years to 31 December 2018.
There is a 20% weighting to the percentile ranking during the 12 months to 31 December 2016, 30% to 31 December 2017, and 40% to the period to 31 December 2018. In addition, a 10% weighting was given to the fund's Sortino ratio to give an indication of relative risk. The four separate figures were added together to give a single number, with the highest possible score being 100.
Any fund with assets of less than £50m as of 31 December 2018 were stripped out; where the manager has a record of less than three years on that portfolio; if the fund is aimed only at institutional or charities investors, or was not in the top half of its peer group over the 12 months to 31 December, 2018.
The funds covered are UK authorised and FCA-recognised with distributor status.
A massive thank you to Morningstar for providing the statistics and data for the shortlist.
Qualitative judging process
Shortlisted funds are then invited to respond to an online questionnaire which asks further questons about the fund, its performance and contributing factors.
A panel of expert fund selectors will judge each category in their area of expertise, and to make recommendations of a first, second and third fund choice. This will included Heads of Research and Fund Analysts from over 60 companies including Allfunds Bank, Architas, Aviva Investors, Barclays Wealth and Investment Management, Brewin Dolphin, Brooks Macdonald, Coutts, Deutsche Bank Wealth Management, Fidelity International, Henderson Global Investors, Investec Wealth & Investment, Quilter Cheviot, Rathbones, RBC Wealth Management and Santander Asset Management.
These recommendations will be put forward to the judging day with the grand judging panel for final review and decision.
Chairperson's decision is final.