NEW YORK — Strong equity returns were found in separate account energy strategies and real estate equity for the year ended June 30, according to Morningstar Inc.'s manager performance database.
The top two best-performing separate account domestic equity strategies for the year in the Morningstar database invested in shares of energy companies. Wellington Management Co., Boston, topped the list with a 54.5% return for its energy strategy, and the Energy-Publicly Traded Equities strategy managed by The Mitchell Group Inc., Houston, returned 44.5%.
In addition, six of the top 10 separate account winners for the year invested in either real estate investment trusts or stocks of real estate companies. The Real Estate Value Equity strategy, managed by Third Avenue Management LLC, New York, returned 41.7% for the year; Wellington's Real Estate Securities strategy returned 40.9%; the U.S. Real Estate strategy from Morgan Stanley Investment Management, New York, returned 40.5%. The Realty Focus and Realty Total Return strategies, both managed by Cohen & Steers Capital Management Inc., New York, returned 39.2% each, while the REITs and REOCs strategy managed by KRA Capital Management Inc., Fairfax, Va., returned 38.6%.