Methodology: Investment categories

The methodology looks at 3 year numbers looking at alpha, volatility and consistently good returns. The scores given will reward:

• results achieved through alpha rather than beta 

• results achieved with relatively less volatility 

• results achieved evenly, rather than one flash in the pan

All funds will be considered, not just the top half.

Scores are then weighted by the size of that fund, such that:

• a fund of 0-50m will have its score multiplied by 0.25 

• a fund of 50-250m will have its score multiplied by 0.5 

• a fund of 250m-1bn will have its score multiplied by 0.75 

• a fund of 1bn-plus will have its score multiplied by 1

The scaled score for each group's funds in each category will then be added together, and the top overall scores in each category will be extracted.

So bigger funds and more funds will all count positively to a group's standing, if those funds are good in the first place. But the reverse will also apply.

The methodology for the Best Fund Management Group uses FE Crown Fund Ratings methodology, rescaled based on fund size and calculated for each fund management group to give an overall score.

These are unique methodologies created for Professional Adviser by FE Trustnet.

The readers of Professional Adviser and IFAonline vote for the groups they think are the best in each category based on these shortlists.

The Editor's decision is final in all aspects of the Professional Adviser Awards.