New York, March 12, 2026: LSEG Lipper announced the results of the prestigious 2026 LSEG Lipper Fund Awards for the United States, held in the heart of New York’s financial district. These annual awards remain a focal point for the global asset management industry, highlighting top-performing funds that consistently deliver strong risk-adjusted returns compared to their peers.
This event gathered investment professionals, industry experts, and journalists from all over the United States to help us acknowledge and celebrate the success of portfolio managers and fund management companies that posted the strongest risk-adjusted returns in the industry.
Different methodologies lead to different results
While the LSEG Lipper Fund Awards are quantitative, the award winners are not determined by picking the funds with the highest returns within their U.S. mutual fund classifications over the respective awards periods.
The LSEG Lipper Fund Awards are based on the Lipper Leader rating for Consistent Return. These ratings are calculated using a risk-adjusted return model based on the fund’s effective return over multiple non-overlapping periods—within the respective three-, five-, and/or 10-year horizons. The calculations over multiple periods ensure that all periods in which a fund underperforms the average of its peer group are identified.
Then, LSEG Lipper uses a utility function based on behavioral finance theory—relative loss avoidance—to penalize periods of underperformance against the peer-group average of eligible funds, with more significant weightings given to excess losses. Consistent Return is a risk-adjusted performance measure for investors with a stronger risk aversion to clustering losses than gains.
The calculation methodology ensures that the winners are funds that have provided superior consistency and risk-adjusted returns compared to a group of similar funds. This is more in line with how investors view financial gains and losses, meaning that funds receiving a Lipper Fund Award may be best suited for investors who value a fund’s year-over-year performance consistency relative to other funds in a particular peer group (View the full methodology here).
Brandon Adkins, U.S. Lipper Research Manager, LSEG, comments: “The breadth of fund management groups represented across each category reflects the strong competition for the LSEG Lipper Fund Awards, which recognize fund managers demonstrating excellence across the industry. These awards highlight the achievements of the asset management community, honoring firms that combine disciplined investment strategies with the ability to deliver strong, consistent results for investors.”
The best mutual funds in the United States
The LSEG Lipper Fund Awards honor those funds with the highest score in the Lipper Leader rating for Consistent Return over the three-, five- and/or 10-year periods. Overall, 40 funds won an award for the three-year period ended November 30, 2025. Also, 112 funds were recognized with a Lipper Fund Award over the five-year period, and 147 funds won the prestigious trophy for the 10-year period.
The best asset management groups in the United States
The group awards are divided into large and small asset management groups based on a regional assets-under-management split. For the U.S. awards, that breakpoint was $234.9 billion in fund assets under management as of November 30, 2025.
To qualify for the group awards, a large fund family group must have at least five equities, five bond, and/or three mixed-assets portfolios. In comparison, a small fund family group must have at least three equities, three bond, and/or three mixed-assets portfolios.
The fund family with the lowest average decile rank of its eligible funds with a three-year Consistent Return score within each asset class and group determined the award winner. The complete list of the winning fund family groups can be found on our awards website.
For the 2026 claim to fame as the best large fund family equity group, Nuveen Fund Advisors, LLC took the top billing, while Brandes Investment Partners LP took the top honors as the best small fund family equity group.
Within the fixed income space, Columbia Management Investment Advisers LLC was the best bond large asset fund manager.
Capital Group won the trophy for the best mixed-assets large fund manager group, while First Eagle Investment Management LLC was at the top of the leaderboard for the best mixed-assets small fund family group.
The winning large and small fund management firms for the overall award demonstrated a combined above-average risk-adjusted performance within its bond, equity, and mixed-assets product lineup. Nuveen Fund Advisors, LLC was named the best overall large fund management group for 2026, while Lord Abbett & Co LLC took the top billing for the best overall small fund management group.
LSEG Lipper data covers more than 380,000 share classes in more than 83 countries. The Lipper Leader ratings are available for mutual funds and ETFs registered for sale in 45 markets. Find out more here.
The LSEG Lipper Fund Awards do not constitute and are not intended to constitute investment advice or an offer to sell or the solicitation of an offer to buy any security of any entity in any jurisdiction. LSEG Lipper Fund Awards designations are for information purposes only. LSEG Lipper is not responsible for the accuracy, reliability, or completeness of the information obtained to calculate the awards. Consequently, LSEG Lipper will not be liable for any loss or damage resulting from information obtained from Lipper or any of its affiliates. Past performance is not a guarantee of future results. Recipients should not make an investment decision based on this information.
About LSEG Lipper Fund Awards
For more than 30 years and in over 17 countries worldwide, the highly respected LSEG Lipper Awards have honored funds and fund management firms that have excelled in providing consistently strong risk-adjusted performance relative to their peers and focus the investment world on top funds. The merit of the winners is based on entirely objective, quantitative criteria. This coupled with the unmatched depth of fund data, results in a unique level of prestige and ensures the award has lasting value. Renowned fund data and proprietary methodology is the foundation of this prestigious award qualification, recognizing excellence in fund management. Find out more at www.lipperfundawards.com.
About LSEG Lipper
With a track record of over 50 years of independent content, LSEG Lipper was the first to develop fund classifications that place funds in their respective peer group. LSEG Lipper data covers more than 380,000+ share classes in over 83 countries. The Lipper Leader ratings are available for mutual funds registered for sale in 47 markets. LSEG Lipper provides independent insight on global collective investments, including mutual funds, retirement funds, hedge funds, and fund fees and expenses. LSEG Lipper offers premium-quality data, fund ratings, analytical tools, and global commentary through specialized product offerings. Trusted by investment professionals for 50 years, LSEG Lipper provides unparalleled expertise and insight to the funds industry.
About LSEG
LSEG is a leading global financial markets infrastructure and data provider, playing a vital social and economic role in the world’s financial system.
With our open approach, trusted expertise, and global scale, we enable the sustainable growth and stability of our customers and their communities. We are dedicated partners with extensive experience, deep knowledge, and a worldwide presence in data and analytics, indices, capital formation,trade execution, clearing, and risk management across multiple asset classes.
LSEG is headquartered in the United Kingdom, with significant operations in 65 countries across EMEA, North America, Latin America, and Asia Pacific. We employ over 26,000 people globally, more than half located in Asia Pacific.
LSEG’s ticker symbol is LSEG.
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