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 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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3Q 2015 Top Guns
While families were finishing their summer vacations and growing accustomed to beautiful summer days, quarterly gains in U.S. equity markets were also becoming habitual for investors. Just as a summer comes to an end, the third quarter brought an end to the twelve-quarter winning streak for U.S. equities, measured by the Russell 3000 index, which fell 7.25% during the quarter. Quarter three also reminded investors that investing in stocks can be a volatile game. The CBOE Volatility Index (VIX), which is used to gauge market volatility, spiked in August to intraday highs (53.29), which haven’t been seen since 2009. The surprising devaluation of China’s currency heightened concerns that the economic slowdown in China was worse than expected, which proved to be the main catalyst for the market volatility. 

Quarter three of 2015 was not kind to U.S. equity investors. Large cap growth companies were able to weather the storm better than the other U.S. asset classes. While the Russell 1000 Growth index was down 5.29%, the Russell 1000 Value index fell 8.40%. Below are some of the managers that make up the Large Cap Growth PSN Top Guns.

  •  Polen Capital: Polen Focus Growth (+1.0% for the quarter)
  •  Peregrine Cap: Growth Equity (-1.7% for the quarter)
  •  Quest Investment: Concentrated Large Cap Growth (-2.3% for the quarter)

Concerns regarding the Eurozone economy, a global decrease in demand for commodities, along the slowdown in China, provided strong headwinds for European stocks. The MSCI Europe index, which measures the performance of more than ten developed equity markets in Europe, was down 8.66% during the third quarter. The following strategies made the PSN Top Guns list for the Europe Universe.

  •  Vontobel: European Equity (-1.5% for the quarter)
  •  Burgundy Asset: Focus European Equity (-1.9% for the quarter)
  •  Threadneedle: Pan European Equity Smaller Companies (-4.3% for the quarter)

U.S. fixed income markets were one of the lone bright spots as the Barclays U.S. Aggregate index gained 1.23% during the quarter. Investors looked for safety due to the turmoil in China, which lead to lower yields and an increase in prices. The Federal Reserves’ decision to keep the federal funds rate near zero was also a driving force in the fixed income space. Below are some of the managers that make up the U.S. Fixed Income PSN Top Guns.

  •  Pyramis Global: Long U.S. Treasury STRIPS (+8.1% for the quarter)
  •  NISA: 15+STRIPS Fixed Income Composite (+7.4% for the quarter)
  •  Camden Asset L.P: Long Duration (U.S. Corporate) (+4.1% 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
Market Specialist
Informa Investment Solutions
Tel: (800) 789-5323
ryan.nauman@informais.com

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2Q 2015 Top Guns
The driving forces behind the performance of the U.S. markets are beginning to sound like a broken record. The second quarter of 2015 started off on a high note, as growing optimism over the U.S. economy, along with comments from the Federal Reserve hinting at gradual interest rate hikes, lead to early gains. However, rekindled fears over the heightened Greek debt crisis nearly erased all of those early gains. During the quarter, Domestic equities, measured by the broad equity Russell 3000 index (+0.14%), were relatively flat. The fixed income space, measured by the Barclays U.S. Aggregate index (-1.68%), fared worse, as investors fled to safety.

Small cap growth companies rewarded investors by posting the best performance within the domestic equity space. The Russell 2000 Growth index continued its strong 2015, as it finished quarter two with a healthy 1.98% return. Below are some of the managers that make up the Small Cap Growth PSN Top Guns.

  • Turner Investments: Small Growth Plus (+11.5% for the quarter) 
  • Stonebridge Capital Management: Small Cap Growth (+8.6% for the quarter)  
  • Artisan Partners: Small Cap Growth (+7.9% for the quarter) 

Emerging markets started the quarter off with a bang, but ended with a whimper as the MSCI Emerging Markets index ended the quarter with a 0.82% return. Rebounding oil prices, along with continued monetary easing by The People’s Bank of China, helped offset the lingering fears of the Greek financial crisis. The following strategies made the PSN Top Guns list for the Emerging Markets Universe.

  • Allianz Global Investors: China Equity (+10.4% for the quarter)
  • Oberweis Asset: China Opportunities (+8.4% for the quarter)
  • Pioneer Investments: Global Emerging Markets (+7.6% for the quarter)

A busy quarter for merger and acquisition activity helped contribute to a record setting quarter for investment grade corporate debt new issues. Otherwise, it was tough sledding in the U.S. fixed income space, while investors fled to safety as they grappled with the Greek debt crisis and the continued Fed watch game. The main benefactor was short maturity issues, as the Barclays U.S. Government 1- 3 Year index gained 0.15% during the quarter, while other longer term fixed income indexes finished in the red. Below are some of the managers that make up the Short Maturity PSN Top Guns. 

  • Aegon USA Investment: Short Duration (+2.2% for the quarter)
  • Seix Advisors: Leveraged Loans (+1.0% for the quarter)
  • Shenkman Capital: Short Duration (+0.8% 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
Senior Product Support Specialist
Informa Investment Solutions 
Tel: (800) 789-5323
ryan.nauman@informais.com 

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1Q 2015 PSN Top Guns
2015 started off with renewed volatility in the market. U.S. stocks reached new highs during the first quarter, even though the major stock indexes had minimal gains. Investors had to grapple with oil price volatility, a strong dollar, foreign monetary policy and the never ending Fed watch. The S&P 500 had a modest gain of less than 1.0%, while the broader gauge of the U.S. equities market, Russell 3000, realized a 1.80% return. Fixed income markets overcame talks of interest rate hikes to post a 1.61% return measured by the Barclays U.S. Aggregate index.

Mid and small capitalization stocks led the way in the U.S. equity markets. The strong dollar contributed to large caps underperforming, as large caps rely on foreign consumers more so than mid and small sized companies. Growth companies also outpaced value companies as the Russell Midcap Growth index paved the way with a 5.38% return. Below are some of the managers that make up the mid cap growth PSN Top Guns.

  • BlackRock: Mid Cap Growth (+11.8% for the quarter)
  • Herndon Capital: Mid Cap Growth (+9.5% for the quarter)
  • Columbus Circle: Mid Cap Growth (+9.2 for the quarter)

The European Central Bank kicked off its quantitative easing program, which helped drive the European markets, as the MSCI EAFE index was up 5.00% during the quarter. The standout in the international space was Japan, due to the economy emerging from a six-month recession. The MSCI Japan index, which measures the performance of the large and mid cap segments of the Japanese market, had a robust return of 10.34%. The following strategies made the PSN Top Guns list for the Japan Universe.

  • JPMorgan: Fl. Japan Equity (+14.1% for the quarter)
  • Tradewinds: Japan Equity (+11.8% for the quarter)
  • Baillie Gifford: Japan Growth (+11.3% for the quarter)

While the Barclays U.S. Aggregate index posted a 1.61% return, lower quality bonds showed the way for the U.S. fixed income market with a 2.6% return, which is represented by the Credit Suisse High Yield index. The bond market also experienced a record quarter of new issuances in the investment grade corporate credit market during the quarter. Below are some of the strategies that made the PSN Top Guns list in the High Yield universe.

  • Pyramis Global: HY Core Inst’l (+3.5 for the quarter)
  • Babson: High Yield (+3.4 for the quarter)
  • Brandywine Global: High Yield (+3.3 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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