Morningstar Announces 2020 Awards for Investing Excellence

Clark is stepping down as portfolio manager of the target-date strategies at the start of next year and will be succeeded by Wyatt Lee, who was also a nominee for the 2020 portfolio manager award.

Exemplary Stewardship: T. Rowe Price

T. Rowe Price, which is well-known for its retirement funds, has "shown itself to be a careful steward of investors' capital," said Bush, noting that investors have benefited from managers' long tenures and the firm's ability to attract and retain talent.

Its success is also rooted in the firm's fundamental approach to active management, according to Morningstar.

Rising Talent: Mohit Mittal, Pimco

Mohit Mittal, co-manager of Pimco's Investment Grade Credit Bond and Pimco Total Return funds and overseer of the firm's investment grade, high yield and emerging markets corporate credit portfolio managers, was lauded for his "impressive analytical, quantitative and leadership skills," according to Bush. 

 "He has had a tremendous impact on the team's ability to get down into the details of dedicated credit portfolios and to identify investment ideas that can be implemented in diversified strategies."