Basing the awards on superior risk-adjusted results and shareholder stewardship, Morningstar has named its Fund Managers of the Decade, bestowing the honors on PIMCO’s Bill Gross, Fairholme’s Bruce Berkowitz and Oakmark’s David Herro, respectively, for fixed income, domestic equity and international equity.
Karen Dolan, director of mutual fund analysis for Morningstar, noted, “The 2000s saw many booms and busts. Bond markets were subdued, and equities ended the decade nearly flat. Our Fund Managers of the Decade showcased superior investing acumen and the ability to stay the course. These managers got ahead by preserving capital on the downside and believing in their research when it pointed to good value.”