New York, March 13, 2003 – Standard & Poor’s, a leading provider of independent investment research, indices and ratings, and BusinessWeek, the world’s most read business magazine, announced today the winners of its first annual U.S. Excellence in Fund Management Awards . Of the 14,285 domestic mutual funds tracked by Standard & Poor’s, ten fund managers or management teams were identified by Standard & Poor’s independent fund analysts as being best in class for their ability to demonstrate exceptional levels of leadership while consistently producing strong results over the past five years. Both Standard & Poor’s and BusinessWeek are units of The McGraw-Hill Companies (NYSE: MHP), a leading global information services provider.
In addition to appraising the quantitative performance of each fund versus that of its peers, Standard & Poor’s fund analysts reviewed the management of a fund for its ability to display a clear investment philosophy, a disciplined investment process, and a support staff rich in experience and deep in breadth. In doing so, Standard & Poor’s was able to identify those managers or management teams whose fund:
Performed at or above the average of its peers in both strong and challenging market conditions
Stayed within its stated investment style over the past five years
Has historically produced consistent, strong returns
Showed a return justifying the current level of its expenses
Was free of any major changes at the fund sponsor (i.e., mergers, acquisition, change in fund management team)
Was able to control risk relative to the fund’s benchmark
Maintained a stable level of assets under management over the past few years
The winners of the first annual Excellence in Fund Management Awards are:
Category
Fund Manager
Fund Name
Ticker
Small-cap Growth
Thomas Barry
Bjurman Micro Cap Growth
Fund
BMCFX
Small-cap Value
Whitney George
Royce Low-Priced Stock
Fund
RYLPX
Large-cap Growth
Team Managed
Growth Fund of America
AGTHX
Large-cap Blend
Bill Miller & Nancy
Dennin
Legg Mason Value Trust
Fund
LMVTX
Large-cap Value
Team Managed
Dodge & Cox Stock Fund
DODGX
Foreign
Rudolph-Riad Younes & Richard Pell
Julius Baer International
Equity Fund
BJBIX
World
Team Managed
Tweedy Browne Global Value
Fund
TBGVX
Convertibles
John Calamos & Nick
Calamos
Calamos Convertible Growth
& Income Fund
CVTRX
Intermediate Bond
William Gross
Harbor Bond Fund
HABDX
Intermediate-Government
Philip Barach, Jeffrey
Gundlach,
& Frederick Horton
TCW Galileo Total Return
Bond Fund
TGLMX
The full list of award winner profiles can be found in the March 24th issue of BusinessWeek, which is on sale Friday, March 14th, or by visiting www.businessweek.com. The full list of winners, including Standard & Poor’s selection methodology, can be found by accessing managerawards.standardandpoors.com on Friday March 14th.
Standard & Poor’s analytic services are performed as entirely separate activities in order to preserve the independence and objectivity of each analytic process. All non-public information received during any analytic process, including credit ratings, is held in confidence. Standard & Poor’s analysts do not disclose non-public information outside of their specific analytic areas.
About Standard & Poor’s
Standard & Poor's is a leader in providing widely recognized credit opinions, financial data, analytical research and investment analysis to the global capital markets. With more than 5,000 employees located in 19 countries, Standard & Poor's is an integral part of the world's financial architecture. Additional information is available at www.standardandpoors.com.
About BusinessWeek
BusinessWeek is the world's largest business magazine, with a worldwide circulation of nearly 1.2 million and more than 5.1 million readers worldwide each week. It is published weekly by The McGraw-Hill Companies in New York, and is distributed in 141 countries. More information about BusinessWeek is available at www.businessweek.com.
About The McGraw-Hill Companies
Founded in 1888, The McGraw-Hill Companies is a global information services provider meeting worldwide needs in the financial services, education and business information markets through leading brands such as Standard & Poor's, BusinessWeek and McGraw-Hill Education. The Corporation has more than 350 offices in 33 countries. Sales in 2002 were $4.8 billion. Additional information is available at www.mcgraw-hill.com.
