Chou named fund manager of the decade

(December 6, 2004) Francis Chou was honoured as Morningstar’s fund manager of the decade at the Canadian Investment Awards held last weekend in Toronto. Chou’s two main funds, Chou RRSP and Chou Associates, were named Canadian equity fund of the year and U.S. equity fund of the year at the awards ceremony.

“The major factor that contributed to the higher-than-average returns and lower-than-average volatility is the principle we follow — and that principle is called the margin of safety,” Chou told gala attendees. “Simply put, we buy a company for 50 cents when it is worth a dollar.”

Other fund managers recognized at Friday night’s ceremony included Fred Sturm, analyst’s choice fund manager of the year, Kim Shannon, whose CI Canadian Investment fund was named Canadian equity fund of the year and Satish Rai, whose TD Canadian Bond fund was the top Canadian income fund.

Joe Canavan was named person of influence of the decade by industry executives. Canavan launched Synergy Asset Management and took the helm at Assante last year.

The 2004 career achievement award went to Alexander Christ, co-founder of Mackenzie Financial, who oversaw the Industrial Growth fund for more than a quarter century.

AIM Trimark was the advisors’ choice for favourite investment fund company. The firm also won four other prizes for three of its mutual funds, as well as a marketing award.

Mackenzie won awards for four of its mutual funds, as did TD. CI and AGF took three fund awards. For a complete list of Canadian Investment Award winners, check the Morningstar website.

Filed by Doug Watt, Advisor.ca, doug.watt@advisor.rogers.com