30th anniversary: how the Raging Bull Awards shaped South Africa's investment landscape

The Raging Bull Awards are celebrating their 30th anniversary this year, marking three decades of recognising excellence in South Africa’s financial services and investment industry. Since their inception, the awards have honoured the achievements of managers of collective investment schemes, providing investors with a trusted benchmark for performance and consistency.

Described as the “Oscars” of the industry, the annual ceremony celebrates top performers across fund categories, including best outright performance, best risk-adjusted performance, and best overall performance by an asset management company. Trophies and certificates are awarded for straight performance over three years and for risk-adjusted performance over five years, with the latter considered the most relevant to investors. Risk-adjusted performance takes into account both returns and volatility risk, and for the upcoming awards in February, covering performance to the end of 2025, this will be measured using the Sortino Ratio.

The Sortino Ratio, a refinement of the Sharpe Ratio developed in the 1960s by US economist William F Sharpe, considers only downside deviation from the mean, which negatively impacts returns, unlike upside deviation. Ratios typically range between -1 and 6, with a number greater than one denoting high returns relative to volatility. The most coveted accolade remains the South African Manager of the Year, awarded for overall risk-adjusted performance across qualifying funds.

This year’s ceremony will take place at the Cape Town International Convention Centre on 13 February 2026. Over the years, the Raging Bulls have recognised funds and managers who consistently outperform their peers, reinforcing investor confidence and setting a benchmark for excellence in the collective investment schemes industry.

Personal Finance editor Dieketseng Maleke says the 30th Raging Bull Awards shine a spotlight on South Africa’s top-performing unit trust funds and the managers behind them.

“It’s inspiring to see how these awards continue to recognise consistency, innovation, and the kind of performance that builds investor confidence. Three decades on, the Raging Bulls remain a benchmark of achievement in the investment industry, and this year’s winners truly embody that legacy.”

Iress and Apex have been supplying the data for the awards, and Iress emphasised its role in supporting the industry.

“At Iress, we pride ourselves on being a long-term trusted partner in the provision of data to our many clients in the South African Financial Markets, both big and small. Supplying the data for the Raging Bull Awards for a second year running is a reaffirmation of the broader partnership role we look to play and showcases our commitment to data quality and integrity. The Raging Bull awards are the benchmark for excellence in the industry, and being able to contribute to deserved recognition of this year's winner is an honour," the data provider says.

The 30th Raging Bull Awards will be sponsored by the Johannesburg Stock Exchange (JSE) and DRDGOLD. The keynote address will be delivered by Dr Leila Fourie, Group CEO of the JSE, while Niël Pretorius, Chief Executive Officer of DRDGOLD Limited, will also feature on the programme. The ceremony will be guided by master of ceremonies Lance Witten, a seasoned media leader with more than 25 years of experience across radio, television, print, magazines, and digital publishing, and currently editor of iol.co.za, one of South Africa’s largest and most trusted news platforms.

BUSINESS REPORT