It's been a challenging time for active fund managers, with profits taking a hit due to declining management fees as investors flock to low-cost passive funds.

Macro-uncertainty, including global trade tensions and increasing economic risk, is also making life tough for managers, while interest rates and bond yields remain at record low levels.

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However, there is still a basic need for people to grow their savings for retirement. The Zenith FundSource awards, which recognise the top performing fund managers in New Zealand, were held in Auckland last night.

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Full list of winners: