Mutual fund rating firm Morningstar is announcing the recipients of the coveted "Fund Managers of the Year" award for 2009:
Bruce Berkowitz of Fairholme Fund (FAIRX)
2009 Return/Percentile Rank: 39.0%/9th
The Team at American Funds EuroPacific Growth (AEPGX) (Stephen Bepler, Mark Denning, Robert W. Lovelace, Carl Kawaja, Sung Lee, Nicholas Grace, Jonathan Knowles, and Jesper Lyckeus)
2009 Return/Percentile Rank: 39.1%/15th
The Team at Loomis Sayles Bond (LSBRX) (Dan Fuss, Kathleen Gaffney, Matthew Eagan, Elaine Stokes)
2009 Return/Percentile Rank: 36.8%/14th
This is the 23rd year that Morningstar issued this award, but a smart investor shouldn't just dive into these fund immediately. After all, if you look across the history of this award, rarely was there a manager who won the Fund Manager of the Year title more than once.