PSN Top Guns

Utilizing a proprietary blend of our clients’ top priority performance screens, PSN Top Guns ranks products in six proprietary star categories in over 50 universes. This is a highly anticipated quarterly ranking and is widely used by institutional asset managers and investors.

“Participation in the PSN database provides us with the best opportunity to be seen and discovered by hundreds of potential institutional clients. Our participation in the database has resulted in numerous invitations to submit proposals.”
— Patrick L. Smith, Chief Investment Officer, Granite Springs Asset Management

Current PSN Top Guns Quarterly Report

To read the latest PSN Top Guns report, click here.

PSN Top Guns Quarterly Reports Archive

1Q 2017 Top Guns

During the first quarter of 2017, U.S. markets have displayed resilience through uncertain times. U.S. equity markets continued to hit record highs during the quarter (S&P 500 +6.07%) as investors pin their hopes on reduced taxes and regulation and an increase in infrastructure spending. The Federal Reserve hiked interest rates based on an improved outlook for the economy and inflation, while soft data continues to paint a rosy picture.
Growth investors were smiling throughout the quarter, as growth funds, represented by the Russell 3000 Growth index (+8.63%), outperformed value funds, represented by the Russell 3000 Value index (+2.99%), across the market cap spectrum. The driving force behind the outperformance was the information technology sector, which had a stellar quarter (S&P 500 Information Technology +12.57%). Below are some of the strategies that make up the U.S. Growth PSN Universe.

Goldman Sachs Asset Management: US Strategic Growth (+23.4% for the quarter
Zevenbergen Capital Investments LLC: ZTech Growth Equity (+16.4% for the quarterColumbia Management: Focused Large Cap Growth (+15.6% for the quarter)

Positive economic data, an uptick in inflation, and gains in leading indicators during the quarter provided the European Central Bank the support needed to increase its economic and inflation forecasts, while keeping its stimulus package in place, resulting in the MSCI Europe index returning +7.61%. Dampened political concerns provided additional tail winds, as pollsters rejected anti-euro candidates and polls showed a diminished chance of Marine Le Pen winning the French presidential election. The following strategies made the PSN Top Guns list for the Europe Universe.

Pictet Asset Management Ltd: Pan European Equity (+12.0% for the quarter)
Evermore Global Advisors, LLC: European Value (+11.7% for the quarter
Threadneedle Asset Management: Pan European Equity Smaller Companies (+11.3% for the quarter)

International corporate debt (Citigroup Non-USD WorldBIG Index +1.86%) outpaced sovereign debt, as central banks hinted at monetary tightening due to an increase in economic growth and inflation. Investors continued to seek higher yielding securities, rewarding strategies with an overweight in emerging market debt. Bonds in local currencies also rewarded investors due to strengthening currencies in the emerging countries. Below are some of the strategies that make up the PSN Top Guns International Fixed Income Universe. 

• Brandywine Global Investment Management: Emerging Markets Debt (+9.0% for the quarter)
• Capital Group: Emerging Markets Debt (Inf-Linked) (+8.6% for the quarter)
• Stone Harbor Investment Partners: Emerging Markets Debt Total Return (+8.4% for the quarter)

The complete list of  PSN Top Guns and an overview of the methodology can be located on  www.informais.com under the “Resources” tab.  If you do not have a login, you can complete the registration process for complimentary access.  For more details on the methodology behind the PSN Top Guns Rankings, or to purchase PSN Top Guns Reports, contact  Ruth Calderon at  ruth.calderon@informais.com

Ryan Nauman  
VP, Product and Market Strategist  
Informa Investment Solutions  
Tel: (800) 789-5323  
Ryan.Nauman@informais.com  
www.informais.com 

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4Q 2016 Top Guns

The fourth quarter of 2016 will be remembered as the time Donald Trump shocked the world by being elected the 45th President of the United States, prompting the “Trump Trade.”  U.S. equity markets sored after the initial panic subsided. Following the election, the S&P 500 closed the year on a +4.6% rally, which helped propel the index to a +3.82% return for the quarter. 

U.S. equities rallied during the quarter as economic optimism grew around President-elect Trump’s policy agenda including an increase in infrastructure spending, deregulation, and lower taxes. Financials lead the way, as talk of deregulation and interest rate hikes created a tailwind for the sector. Investors also benefited by going small on the market cap spectrum due to concerns over Trump’s stance on trade and protectionism, resulting in the Russell Mid Cap Value index returning +5.52%. Below are some of the strategies that make up the Mid Cap Value PSN Top Guns.

  • Smith Graham & Co. Invst. Adv, L.P: Mid Cap Value (+13.0% for the quarter)
  • Hotchkis & Wiley Capital Management: Mid Cap Value (+12.4% for the quarter)
  • Chartwell Investment Partners: Mid Cap Value (+12.0% for the quarter)

A weakened Euro dampened the returns for U.S. dollar-based investors as international equities, measured by the MSCI EAFE index, finished the quarter -0.7%. Political turmoil throughout the Eurozone weighed on equity markets, while continued economic stimulus by the European Central Bank and an increase in investor optimism over the global economy provided support. The following strategies made the PSN Top Guns list for the EAFE Universe.

  • Lombardia Capital Partners LLC: International Equity (+7.9% for the quarter)
  • Green Investment Management, Inc: Guardian Sector (+5.4% for the quarter)
  • Pzena Investment Management, LLC: International Focused Value (+5.4% for the quarter)

The fourth quarter was volatile for U.S. fixed income, as investors rotated out of fixed income and into equities on the expectations that economic growth and inflation would increase as the Federal Reserve voiced a hawkish tone. The potential for lower taxes and increase in infrastructure spending hurt municipals, as the Bloomberg Barclays Municipal index fell -3.62% during the quarter. Below are some of the strategies that make up the PSN Top Guns Municipals Universe.

  • C.W. Henderson & Associates, Inc.: Short Term Strategy (+0.2% for the quarter)
  • Western Asset Management Company: US Municipal Money Market (+0.1% for the quarter)
  • Gurtin Municipal Bond Management: Municipal Ultra-Short Term (+0.1% for the quarter)

The complete list of PSN Top Guns and an overview of the methodology can be located on www.informais.com under the “Resources” tab.  If you do not have a login, you can complete the registration process for complimentary access.  For more details on the methodology behind the PSN Top Guns Rankings, or to purchase PSN Top Guns Reports, contact Ruth Calderon at ruth.calderon@informais.com.

Ryan Nauman 
VP, Product and Market Strategist 
Informa Investment Solutions 
Tel: (800) 789-5323 
Ryan.Nauman@informais.com 
www.informais.com

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3Q 2016 Top Guns

Equity markets around the world didn’t allow the Brexit results to hold them down during the third quarter, as the primary global equity markets rallied. Investors’ confidence increased as it became clearer that the Brexit fallout would have a muted immediate impact on the global economy. The Federal Reserve left interest rates untouched during the quarter and yields on global sovereign debt remained at all-time lows with a record amount of sovereign debt trading at negative yields.

Improved economic data, along with a continued accommodative monetary policy by the Federal Reserve, lead to a “risk on” environment. U.S. equities rallied during the quarter, with the Russell 3000 index posting a +4.40 percent return, and small caps leading the way. Investors were rewarded for moving down the size spectrum, as the Russell 2000 index posted a stellar +9.05 percent return for the quarter. Below are some of the strategies that make up the Small Cap PSN Top Guns.

  • Schneider Capital Management Company: Small Cap Value (+27.3% for the quarter)
  • Bares Capital Management: Bares Small Cap (+19.7% for the quarter)
  • Kopp Investment Advisors: AccruHealth (+18.6% for the quarter)

    Emerging equity markets (MSCI Emerging Markets index +9.15%) benefited as the world’s central banks provided additional stimulus, which helped stabilize commodity prices and provide a boost to the commodity rich regions. Fiscal stimulus in China, along with data suggesting that their economic environment is stabilizing, provided a boost to Chinese stocks, which was the top emerging market. The following strategies made the PSN Top Guns list for the Emerging Markets Universe.

  • Mirae Asset Global Investments: Russia Sector Leader Equity (+16.5% for the quarter)
  • Baillie Gifford Overseas Limited: Greater China (+16.3% for the quarter)
  • Oberweis Asset Mgmt: China Opportunities (+15.5% for the quarter)


    Uncertainty surrounding the Federal Reserve’s next move, and changing economic sentiment, caused another volatile quarter for the 10-year U.S. Treasury yield. The hunt for yield and continued inaction by the Federal Reserve, partnered with hints that future rate hikes will be gradual, lead to a positive quarter for U.S. corporate bonds (Bloomberg Barclays U.S. Aggregate index +0.46%). Below are some of the strategies that make up the PSN Top Guns Core Plus Universe. 

  • Altrius Capital Management: Unconstrained Fixed Income (+6.4% for the quarter)
  • Eaton Vance Management: Multi-Sector Bond (+5.4% for the quarter)
  • Neuberger Berman: Opportunistic Credit (+4.2% for the quarter)

    The complete list of PSN Top Guns and an overview of the methodology can be located on www.informais.com under the “Resources” tab.  If you do not have a login, you can complete the registration process for complimentary access.  For more details on the methodology behind the PSN Top Guns Rankings, or to purchase PSN Top Guns Reports, contact Ruth Calderon at ruth.calderon@informais.com.

    Ryan Nauman
    VP, Product and Market Strategist
    Informa Investment Solutions
    Tel: (800) 789-5323
    Ryan.Nauman@informais.com
    www.informais.com

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    2Q 2016 Top Guns 

    Brexit was the dominating theme throughout the second quarter of 2016. Global markets zigged and zagged every time a new Brexit poll was released. Despite the global sell- off during the days immediately following the Brexit vote, global markets rallied to finish the quarter up 1.21% (MSCI World Index).

    Record low interest rates and concerns regarding the strength of global economies caused investors to search for quality, driving Sovereign debt yields to record lows. This flight to quality provided price support for Sovereign debt around the world as the Citigroup World Government Bond index finished the quarter up 3.41%.

  • ValueWorks: Capital Appreciation (+10.2% for the quarter)
  • Reaves Asset Management: Long Term Value (+9.3% for the quarter)
  • Delaware Investments: Large Cap Value Focus (+9.1% for the quarter)

    It was a tumultuous quarter for European investors. Concerns over the health of some European economies, Italian bank worries, all culminating with the U.K. leaving the European Union caused for a very volatile quarter. After a deep sell-off immediately following the Brexit vote, markets calmed with the swift naming of Theresa May as new Prime Minister of the U.K. This collective uncertainty led to a -2.29% return for the MSCI Europe index. The following strategies made the PSN Top Guns list for the Europe Universe.

  • Financial Trust: Europe ValueMomentum (+2.1% for the quarter)
  • Pyrford International: European Equity (+1.7% for the quarter)
  • Walter Scott: European Strategy (+0.7% for the quarter)

    Economic concerns, along with the Brexit outcome, played a role in the U.S. Federal Reserve deciding to keep rates unchanged. A combination of investors searching for safety and low treasury yields, pushed investors to focus on corporate debt; namely low quality debt in their search for income. The BofA Merrill Lynch US High Yield index finished the quarter up 5.88% as a result. Below are some of the strategies that make up the High Yield PSN Top Guns.

  • Advisors Asset Management: Credit Opportunities (+14.8% for the quarter)
  • J.P. Morgan Asset Management: Distressed Debt (Columbus) (+12.1% for the quarter)
  • Nuveen Asset Management: High Yield Fixed Income (+8.9% for the quarter)

    The complete list of PSN Top Guns and an overview of the methodology can be located on www.informais.com under the “Resources” tab. If you do not have a login, you can complete the registration process for complimentary access. For more details on the methodology behind the PSN Top Guns Rankings, or to purchase PSN Top Guns Reports, contact Ruth Calderon at ruth.calderon@informais.com.

    Ryan Nauman
    Market Specialist
    Informa Investment Solutions
    Tel: (800) 789-5323
    ryan.nauman@informais.com 
    www.informais.com

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    1Q 2016 Top Guns
    During the first six weeks of Q1 2016, the U.S. stock market was in a full-on nose dive, with the S&P 500 index dropping roughly 11% during this short period.  A crash in oil prices, a global slowdown (including talk of a U.S. recession), currency devaluations, global banking concerns and global central bank policies all captured the attention of investors.  Then came the inflection point on February 11th, which marked the bottom for U.S. markets and oil prices.  Since February 11th, the S&P 500 index rebounded approximately 13% to end the quarter in the black at 1.35%.  Yes, it was quite the ride.

    Global central banks wrestled with the idea of keeping interest rates at all-time lows or even lowering rates into negative territory.  These actions provided support to bond prices, while yields continued to fall.  U.S. Corporate bonds, measured by the Barclays U.S. Aggregate index, rallied during the quarter with a total return of 3.03%.

    Despite the struggles of the financial sector, which typically falls on the value side of the growth–value spectrum, generally speaking, value funds out performed growth funds during the quarter. In particular, small cap value funds, measured by the Russell 2000 Value index (+1.70%), outperformed small-cap growth funds, measured by the Russell 2000 Growth index (-4.68%) by a wide margin.  Below are some of the funds that make up the Small Cap Value PSN Top Guns.

    • Aegis Financial: Small Cap Value (+24.2% for the quarter)
    • Century Mgmt.: Small Cap Value (+9.8% for the quarter)
    • Towle & Co.: Deep Value (+8.8% for the quarter)
    The rebound in commodity prices from a volatile start to the year, stimulus packages from global central banks, and dovish remarks from the Federal Reserve regarding rate hikes all contributed to a healthy 5.75% return for the MSCI Emerging Markets index during the quarter.  The following strategies made the PSN Top Guns list for the Emerging Markets Universe.

    • T.Rowe Price: Latin America Equity Strategy (+20.7% for the quarter)
    • ClariVest Asset: Emerging Markets (+18.3% for the quarter)
    • Brandes Partners: Emerging Markets Equity (+13.0% for the quarter)
    The international fixed income space was driven by record low interest rates, and in some instances, negative interest rates, as well as safe-haven buying as investors fled to safety.  The foreign bond market (Citigroup Non-USD WorldBIG Index, +8.48%) also received a big boost when European Central Bank (ECB) President, Mario Draghi, announced the ECB would begin including corporate bonds as part of its bond buying program.  The following strategies made the PSN Top Guns list for the International Fixed Income Universe.

    • Colchester Glob: Local Market Debt Composite (+13.6% for the quarter)
    • Mondrian Invst: Emerging Markets Debt (+12.9% for the quarter)
    • Neuberger Berman: Emerging Markets Debt - Local Currency (+11.8% for the quarter)
    The complete list of PSN Top Guns and an overview of the methodology can be located on www.informais.com under the “Resources” tab.  If you do not have a login, you can complete the registration process for complimentary access.  For more details on the methodology behind the PSN Top Guns Rankings, or to purchase PSN Top Guns Reports, contact Ruth Calderon at ruth.calderon@informais.com .

    Ryan Nauman
    Market Specialist
    Informa Investment Solutions
    Tel: (800) 789-5323
    Ryan.Nauman@informais.com
    www.informais.com

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    4Q 2015 Top Guns
    After a less-than-stellar third quarter, U.S. stocks had a nice rebound in the fourth quarter to close out 2015.  The broad U.S. equity market, measured by the Russell 3000 index, finished the fourth quarter with a 6.27% gain.  In October, strong domestic macroeconomic data and continued low interest rates fueled performance. Momentum slowed by the end of the quarter as the Federal Reserve finally increased interest rates to 0.25% and oil hit an eleven-year low.  

    Global equity markets also started the quarter strong amid signals of continued monetary policy easing, but momentum slowed in December as the European Central Bank’s  policy announcement left markets wanting more (MSCI EAFE index +4.75% for the quarter). 

    Large caps led the rebound in domestic equities, while growth companies outperformed value companies. Large cap growth companies, represented by the Russell 1000 Growth index, finished the quarter up 7.32%.  On the other side of the style spectrum, large value companies, measured by the Russell 1000 Value index, came in at +5.64%.  Below are some of the managers that make up the All Cap PSN Top Guns.

    • MFS Invt Mgmt: Technology Equity (+10.7% for the quarter)
    • Managed Asset: MAP US Multi-Cap (+9.6% for the quarter)
    • Fred Alger Mgmt: Alger Spectra (+8.8% for the quarter)

    Japanese equities also enjoyed a strong fourth quarter (MSCI Japan Index +9.38%), aided by Prime Minister Abe’s statements regarding a stimulus plan intended to boost the economy and end years of deflation.  The following strategies made the PSN Top Guns list for the Japan Universe.

    • Sompo Japan Nipponkoa Asset Mngt: Japan Value Equity Concentrated (+13.2% for the quarter)
    • Baillie Gifford: Japan Growth (+10.9% for the quarter)
    • Daiwa SB Invsts. : Japan Eq. Mid-Small GARP (+10.8% for the quarter)

    Domestic bond markets trended lower during the quarter as the Federal Reserve raised interest rates for the first time in nearly a decade.  Concerns over high-yield bonds resulted in increased outflows from corporate bond funds, which lead to some funds halting redemptions. Oil weakness weighed heavily on energy-related issuers, many of which are below investment-grade credit quality.  The BofA Merrill Lynch US High Yield Index ended the quarter with a -2.17% return.  The following strategies made the PSN Top Guns list for the High Yield Universe.

    • Bradford Marzec: High Yield (+0.6% for the quarter)
    • Columbia Mgmt: High Yield Fixed (+0.3% for the quarter)
    • Post Advisory: Trad High Yield (+0.2% for the quarter)

    The complete list of  PSN Top Guns and an overview of the methodology can be located on  www.informais.com under the “Resources” tab.  If you do not have a login, you can complete the registration process for complimentary access.  For more details on the methodology behind the PSN Top Guns Rankings, or to purchase PSN Top Guns Reports, contact  Ruth Calderon at  ruth.calderon@informais.com.

    Ryan Nauman  
    Senior Product Support Specialist 
    Informa Investment Solutions  
    Tel: (800) 789-5323 
    ryan.nauman@informais.com   

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