Boston, MA (PRWEB) January 14, 2008
Independent money manager Betro | Mileszko & Company has announced their 2007 Vanguard and Fidelity fund awards. The awards are designed to recognize funds and managers for their outstanding achievement and contribution to shareholder value during the prior calendar year.
In the Domestic Equity category, the Fidelity Independence and Vanguard Growth Equity funds received top honors. The award for best Domestic Sector fund went to Fidelity Select Energy Services and Vanguard Energy. Fidelity Spartan Intermediate Treasury Index and Vanguard Inflation-Protected Securities received awards for the best fund in the Domestic Bond category. And the International Equity category awards went to the Fidelity Southeast Asia and Vanguard Emerging Markets Index funds.
"The 2007 market environment proved to be quite challenging for fund managers as the dispersion of returns between various sectors, investment styles and asset classes was considerable," said John Mileszko, Chief Investment Officer. "Those managers with the courage and conviction to deviate from the standard index industry allocations had an opportunity to add significant performance alpha if they concentrated more assets in energy, basic materials and technology stocks. Any manager sticking with financials or consumer discretionary stocks made the fund's shareholders pay a painful price."
To determine which funds are most deserving of an annual award, Betro | Mileszko & Company analyzes each of the Fidelity and Vanguard fund offerings in various categories and compares them on a number of quantitative and qualitative metrics including absolute and relative returns, and level of risk. A score for each fund is then calculated based on a proprietary formula that takes into consideration the key fund characteristics that the firm believes are most important in adding value to and rewarding shareholders.
"When we concluded our analysis, there were a few surprises with this year's award winners," said Mileszko. "Both Rob Bertelson, manager of the Fidelity Independence fund, and Bob Turner, manager of Vanguard's Growth Equity fund have certainly faced their share of criticism in the past. But both managers had a stellar year relative to their market benchmark and shareholders were rewarded for sticking with them. Those who have been highly critical of Bertelson and Turner were completely wrong in 2007."
Betro | Mileszko & Company is an independent money manager specializing in Vanguard and Fidelity funds. The firm has offices in Foxboro, Massachusetts but can serve clients in any state. For further information and all media inquiries, please contact John Mileszko at (508) 698-4949.
A complete version of the 2007 Fund Award report can be found at http://www.betromileszko.com
Disclaimer: This press release is for informational purposes only and does not constitute a full description of investment services or performance. It is not a solicitation or offer to sell securities or investment services. Any reference to performance should not be interpreted to state or imply past performance indicates future results. Betro | Mileszko & Company is a privately owned fee-based Registered Investment Advisor and is not affiliated with Fidelity Investments or the Vanguard Group. All rights reserved. Copyright © 2008 Betro|Mileszko & Company, LLC