Christopher Davis and Ken Charles Feinberg, managers of the Selected American Shares and Davis NY Venture A funds, have been named 2005 domestic-stock managers of the year by Morningstar.
   Also, Tad Rivelle, Laird Landmann, Stephen Kane and David Lippman of the Metropolitan West Total Return Bond Fund were named fixed-income managers of the year.
   Robert Lyon, Matthew Pickering and Jerrold Senser of the ICAP International fund were named international-stock managers of the year.
   In selecting Davis and Feinberg, Morningstar noted they beat the S&P 500 Index by 5% with a financials-heavy portfolio, despite a year of rising interest rates.
   The duo was also cited for reigning in transaction costs and taxes, avoiding short-term bets and keeping expenses low.
   "This firm sets the bar for others in the industry," said Kunal Kapoor, director of mutual fund analysis for Morningstar. "At a time when other firms don't always do what is best for their shareholders, it's refreshing to see a firm so committed to the long-term welfare of fundholders."
   The MetWest team was cited for being nimbly managed. Morningstar noted the fund bulked up on "the high-yield, bank-loan and other specialty areas of the bond market to help Total Return Bond return more than 3%-topping 95% of its peer group."
  On the international front, the ICAP International team led by Lyon was credited with converting the fund from a European fund to one with a broad foreign stock mandate. This enabled the fund to invest in Japanese companies, which rallied in 2005. The fund was also lauded for its low fee-at 0.80%-and for maintaining consistent performance with the help of a low staff turnover.
   "In hindsight, ICAP International's transition from a Europe-only portfolio to a diversified international fund seems perfectly timed," Kapoor said. "We're pleased to see such a decision be driven by an investment rationale rather than marketing considerations."