"The fund has trounced the market since 1973 with a long-term, no-star approach to investing, posting an annualized return of more than 12 per cent."

The long term average is based on the fund making a lot of money a long long time ago (about 20 years ago) when it was much smaller in size. According to Morningstar the fund has averaged 6.62% per year for the past decade to Oct 31, 2016. The no-star approach hasn't yielded anything remarkable for almost 20 years. Good but not remarkable.