The moniker of Running of the Bulls might sound a bit tongue-in-the-cheek, but the intentions and importance are serious.
It is the Profile Group's opening race to find South Africa's best-performing unit trusts, and the first figures presented a few surprises.
Who would think that South African equity unit trusts nearly matched the annual performance of offshore funds over the past three or five years in rand terms?
Best known for publishing the Stock Exchange Handbook and providing stock market and unit trust data, the Profile Group says it is relaunching an award to recognise unit trust performance to compete with its previously popular Raging Bulls Award.
The first of Profile's new Annual Unit Trust Awards will be based on the three- and five-year performance of unit trusts at the end of December.
Ernie Alexander, executive director of Profile Group, says to kick off the unit trust awards, ProfileData and PlexCrown™ Fund Ratings introduced a quarterly rating dubbed The Running of the Bulls.
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