New China Diamond Quality Enterprises Stock Fund has won the Morningstar Equity Fund Award of 2015, announced the independent investment research firm on Friday.

Other winners this year fell that also include Great Wall Active Return Increase Bond Fund and Lion Dynamic Asset Allocation Mixed Type Fund.

The Morningstar China Fund Awards recognizes retail funds that added the most value for investors compared to their peer group in 2014 and over the long term, according to the firm's statement.

The quantitative evaluation investigates the fund's total annual returns, risk, and risk-adjusted returns, whether the management team has changed in the last year, the proportion of indexing investment, long-term performance as well as the fund's annual fee level, among other aspects.

The qualitative analysis focuses on factors including the tenure of the fund manager, stability of the fund management team, consistency between investment strategy or process and the portfolio, investor service, and regulatory history, Morningstar said.

The Chicago-headquartered firm, founded in 1984, is a leading provider of independent investment research with about 120 analysts.