A pair of mutual fund industry titans won big this week, thanks to the folks at a Chicago-based investment research giant.
| Timothy D. "Tim" Armour|
On Tuesday, Tim Strauts
, head of manager research, North America at Morningstar, Inc.
that the winners
of the 2023 U.S. Morningstar Awards for Investing Excellence
at BlackRock's Rick Rieder
and Capital Group
. Cap Group (home of American Funds) won this year's "exemplary stewardship" award, while Rieder won the "outstanding portfolio manager" award.
This was Rieder's second nomination
and Cap Group's fifth
. These are the fifth annual Investing Excellence awards, so Cap Group has been nominated every time.
, senior manager research analyst at Morningstar, describes Cap Group as "differentiated by its strong culture."
"The firm provides strong risk-adjusted results for investors while offering low fees, and its signature multimanager approach minimizes key-person risk and succession issues," Welch states.
Rieder, managing director and chief investment officer of global fixed income at BlackRock, also serves as head of the firm's fundamental fixed income business and of the global allocation investment team. He has spent 13 years with the publicly traded fund firm.
"Rick leads one of the strongest fixed-income platforms in the industry, guided by his team's thorough research and investor-focused approach," states Eric Jacobson
, director of manager research for fixed-income strategies at Morningstar.
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