Fidelity International was the biggest winner at the Morningstar UK Fund Awards 2016, taking home two awards for its work in fixed income and multi-asset.
Fidelity was named the best fixed income fund house and the best multi-asset fund house, while First State Investments won best equity fund house.
The £107m Threadneedle UK Growth fund was named best UK equity fund at the awards, while the £420m Liontrust UK Smaller Companies fund was crowned best UK small/mid-cap equity fund.
Outside of UK investments, the £5.3bn Fundsmith Equity fund was titled best global equity fund, while the £4.7bn MFS Meridian European Value fund was named best European equity fund.
The award for best sterling bond fund was given to the £376m Rathbone Ethical Bond portfolio while the best sterling allocation fund was the £485m Premier Multi-Asset Monthly Income fund.
Morningstar survey: Global inflows for 2015 drop by one third
Morningstar UK selected the winners of the awards using a quantitative methodology with a qualitative overlay that considers the one, three, and five year performance of all eligible funds.
The ratings agency also adjusts returns for risk using Morningstar Risk, a measure that imposes a higher penalty for downside variation in a fund's return than it does for upside volatility.
Christopher Traulsen (pictured), director of manager research for EMEA at Morningstar, said: "When compared to peers, all of our winners delivered strong results in 2015 and over the five years ended 31 December, after taking risk into account.
"These funds and fund houses have demonstrated they have the ability to earn strong returns over the long-term without undue risk. We believe that taking a patient, long-term view to investing will ultimately help investors reach their financial goals."
