Brent Lynn of Janus Overseas, Michael Hasenstab of Templeton Global Bond and Bob Goldfarb and David Poppe of Sequoia Fund were named mutual fund managers of the year for 2010 by Morningstar.
“These managers posted exceptional gains — enough to overcome the difficult market environment of the past few years,” Karen Dolan, director of mutual fund analysis for Morningstar, said in a statement.
Messrs. Goldfarb and Poppe won in the domestic stock category, Mr. Lynn for international stocks and Mr. Hasenstab for fixed income.
Mr. Lynn's $13.5 billion fund returned 19% last year. While Mr. Lynn historically has favored emerging markets stocks, more recently he is finding attractive bets closer to home. Delta Air Lines, Ford Motor Co. and Bank of America Corp. were among his top 10 holdings as of Sept. 30.
Mr. Hasenstab's $46 billion bond fund returned 13% in 2010. He generally avoids the bonds of the developed economies in favor of those from emerging countries that have lower debt levels and better growth prospects, Morningstar said.
Templeton Global Bond fund is run by Franklin Resources.
The $3.5 billion Sequoia Fund returned 20% last year. The fund was started in 1970 by value investors Bill Ruane and Richard Cunniff. The fund's largest holding as of Sept. 30 was Berkshire Hathaway Inc..
