Tower has been named 2009 fund manager of the year in the FundSource Managed Fund Industry Awards.

It is the fourth time Tower has won the award in the last nine years.

Tower also took out two sector awards this year in the categories international equity and diversified balanced.

AMP won in the New Zealand equities category, New Zealand fixed interest and international fixed interest, and ING won the categories of cash, diversified defensive and diversified growth.