The whole world was shocked when the Oscar Award went to the wrong winner for 2 minutes but no one is too concerned about the fact that many fund awards are given out on the sole basis of past performance.
The problem of using only past performance to determine the award for best fund or fund manager is that plenty of research has proven that past performance isn't an indicator for future results.
The most useful way from the standpoint of investors is to determine the winners of the fund awards on the basis of their chance to outperform.
This can only be done by using qualitative analysis performed by a large group of professional fund analysts.
SharingAlpha will be happy to support the process in a similar fashion to the one it already provided in the Annual InvestmentEurope Fund Awards and the one planned for this year's InvestmentWeek Fund Manager of the Year Awards.
Now we only need to make sure that the right envelope is handed over to the presenter...