This is the first year Morningstar has awarded an Alternatives Fund Manager of the Year award. Morningstar defines alternative investments as those that do not fit neatly in its traditional equity or fixed-income style boxes—either because they invest in different asset classes, take long and short positions, or because they are illiquid.Allocation Fund Manager of the Year: David Giroux, T. Rowe Price Capital Appreciation (PRWCX) David Giroux joined the fund in 2006, and since then has beaten 97 percent of moderate-allocation category peers, delivering top-decile returns on a risk-adjusted basis. Giroux follows a straightforward asset allocation approach, generally investing 55-65 percent of assets in equities and the rest in a mix of fixed income and cash. For most of his tenure, Giroux has favored convertible bonds, and more recently, leveraged loans, in the fixed-income segment of the fund.
Morningstar Announces 2012 U.S. Fund Manager Of The Year Award Winners
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