Alexander Forbes Investments has been named Manager of the Year at the 2026 Raging Bull Awards, with Sasfin Asset Managers and Sygnia Asset Management placing second and third respectively. The awards ceremony, held in Cape Town on 13 February, marked the 30th anniversary of one of South Africa’s longest-running investment performance benchmarks.
The Raging Bull Awards assess a broad universe of domestic collective investment schemes and institutional funds, measuring both absolute and risk-adjusted returns. According to Raging Bull Awards, certificates are awarded for straight performance over three years across 16 categories, while trophies recognise the best risk-adjusted performance over five years in eight categories. The methodology relies on performance data provided by Apex and Iress, with outcomes calculated using the Sortino ratio, which emphasises downside risk rather than total volatility.
The recognition comes at a time when asset managers are operating in a complex market environment characterised by subdued domestic growth, volatile currency movements and shifting global capital flows. Industry data from the Association for Savings and Investment South Africa (Asisa) show that South African collective investment scheme assets under management exceeded R3 trillion in 2025, reflecting continued investor participation despite uneven economic conditions.
Risk-adjusted performance has become increasingly important for institutional and retail investors alike, particularly as pension funds and multi-asset portfolios seek to balance capital preservation with long-term growth. The emphasis on downside risk in the awards methodology aligns with this broader shift in investor preference.
The awards’ organisers note that winning managers typically demonstrate consistent returns across multiple funds and maintain disciplined processes during periods of market stress. Over three decades, the Raging Bull Awards have evolved into a benchmark for performance credibility in the domestic asset management industry.
The 2026 results underline the competitive dynamics within South Africa’s investment sector, where firms are contending not only with market volatility but also fee compression, regulatory scrutiny and growing demand for transparent, outcome-based strategies.
Overall honours
Manager of the Year: Alexander Forbes Investments
Runner-up: Sasfin Asset Managers
Third place: Sygnia Asset Management
Trophies for risk-adjusted performance (five years)
Best SA Equity General Fund (including SA General)
- 36One BCI SA Equity Fund
- Investec BCI Dynamic Equity Fund
- Corion BCI Equity Fund
Best SA Multi-Asset Fund
- Sygnia Enhanced Income Fund
- Curate Momentum Income Plus Fund
- Taquanta BCI Active Income Fund
Best SA Interest Bearing Fund
- Alexander Forbes Investments Superior Yield Fund
- Truffle SCI Income Plus Fund
- Sasfin BCI High Yield Fund
Best Global Equity Fund
- BCI Ranmore Global Value Equity Feeder Fund
- PSG Global Equity Feeder Fund
- Merchant West SCI Global Equity Feeder Fund
Best Global Multi-Asset Fund
- Allan Gray-Orbis Global Balanced Feeder Fund
- Merchant West SCI Global Managed Growth Fund
- PSG Global Flexible Feeder Fund
Best Global Interest-Bearing Fund
No award
Best Worldwide Fund
- Blue Quadrant Worldwide Flexible Prescient Fund
- BCI Flexible Fund
- Flagship BCI Prosperity Worldwide Flexible Fund of Funds
Best Real Estate Fund (SA and Global)
- Nedgroup Investments Property Fund
- Metope Property Income Prescient Fund
- NGI Private Wealth Property Fund
Certificates for straight performance (three years) – top three funds in each category
Best SA Equity General Fund
- Ninety One Value Fund
- Methodical BCI Equity Fund
- Steyn Capital Equity Prescient Fund
Best SA Equity SA General Fund
- 36One BCI SA Equity Fund
- Vunani BCI Equity Fund
- Prescient Core Equity Fund
Best SA Equity Small and Medium Cap Fund
- Old Mutual Mid & Small-Cap Fund
- Satrix Mid Cap Index Fund
- Coronation Smaller Companies Fund
Best SA Multi-Asset Flexible Fund
- Granate BCI Flexible Fund
- GTC Flexible Fund
- Visio BCI Actinio Portfolio
Best SA Multi-Asset High Equity Fund
- Long Beach Managed Prescient Fund
- High Street Balanced Prescient Fund
- Granate BCI Balanced Growth Fund
Best SA Multi-Asset Medium Equity Fund
- PortfolioMetrix BCI Moderate Fund of Funds
- Absa SCI Multi Managed Passive Accumulation Fund
- Fairtree Flexible Balanced Prescient Fund
Best SA Multi-Asset Low Equity Fund
- Oyster Catcher Realfin Stable Fund
- Camissa Stable Fund
- M&G 2.5% Target Income Fund
Best SA Multi-Asset Income Fund
- PortfolioMetrix BCI Dynamic Income Fund
- Harvard House BCI Flexible Income Fund
- ClucasGray Flexible Income Prescient Fund
Best SA Interest-Bearing Short-Term Fund
- Truffle SCI Income Plus Fund
- Terebinth SCI Enhanced Income Fund
- Ashburton SA Income Fund
Best SA Interest-Bearing Variable Term Fund
- Fairtree ALBI Plus Prescient Fund
- Prescient Flexible Bond Fund
- Sanlam Investment Management Bond Fund
Best SA Real Estate Fund
- Amplify SCI Property Equity Fund
- PortfolioMetrix BCI SA Property Fund
- M&G Property Fund
Best Worldwide Equity General Fund
- BCI Enhanced Equity Fund
- Brenthurst BCI Worldwide Growth Fund of Funds
- Nest Egg BCI Worldwide Equity Fund
Best Worldwide Multi-Asset Flexible Fund
- Raven BCI Worldwide Flexible Fund
- SaltLight BCI Worldwide Flexible Fund
- Long Beach Flexible Prescient Fund
Best Global Equity General Fund
- Sygnia FANG.AI Equity Fund
- BCI Ranmore Global Equity Feeder Fund
- Coronation Global Equity Select Feeder Fund
Best Global Multi-Asset Flexible Fund
- Methodical BCI Global Dynamic Fund
- ThinkCell BCI Global Marathon Fund
- MiPlan BCI Global Macro Fund
Best Global Multi-Asset High Equity Fund
- BCI Contrarius Global Balanced Feeder Fund
- Allan Gray-Orbis Global Balanced Feeder Fund
- High Street Global Balanced Prescient Feeder Fund
Best Global Real Estate Fund
- Oasis Crescent International Property Equity Feeder Fund
- Nedgroup Investments Global Property Feeder Fund
- Meago Enhanced Global Property Prescient Fund